Li-related News/Articles/Reports, page-9188

The price has dropped so much that it is now a small fraction of the price is was last year. It's not worth anything like the current market cap, but existing holders can increase their holdings by multiples at a fraction of what they initially paid, so after the people who knew it was best to sell immediately on the shut down news or shortly after have already gone, some of the remaining holders are keen to buy at these prices. Perhaps some traders not interested in the fundamentals are buying in thinking the market may have overacted to the news, but they will dump as soon as the price starts falling again.

For the moment it has found support in the high 3s, but with no chance of any positive news coming for a long time (the permit is already granted, there's now zero chance of improvement in production and all that's happening at the plant is an accumulation of dust and rust), and obviously no chance of a funding deal to build the 10,000TPA plant in the foreseeable future and I'd gladly bet ever, it's just a matter of time before it falls through support levels.

If you want to see the mentality of buyers, just look at these threads; somehow hoping to VW's collapse in 5-10 years is a positive for AGY (???), if Harris is voted in there will be some sort of improvement compared to the Biden-Harris government (????????? the government which destroyed the economy is going to fix it if reelected?).

The bullish talk here is getting truly bizarre. It shows what's in the minds of buyers, if they can think these things they can convince themselves to buy, but that mindset can only last so long. I'd be surprised if we don't see 2.6c this year and lower next year, but for now the price is supported simply because it was recently so much higher and the market struggles to fathom such rapid changes in value.