no-one is a winner when a resource dependant company has its source mineral lose value
that is simple logic..
having said that Li non producers have been hardest hit where as producers have generally faired better.
China is key for many markets including Li. So will there be a turnaround any time soon? i personally suspect not. with youth unemployment a key indicator (which the CCP has stopped reporting numbers on), the property market still in trouble, declining property values, a shrinking economy, and signs of unrest. yet EV sales have bounced back in August.. all be it resulting from heavy discounts.
also the world economy is not out of trouble with a slowdown to come after further rate hikes.. and of course let's see the US stock market for what it is right now. overpriced...
i am not a doomsday person but just see further difficult times ahead.. and no turnaround on Li just yet.
dyor nfa
AKE Price at posting:
$12.66 Sentiment: None Disclosure: Not Held
