I was surprised Lynas went down the way they did I had predicted a run up to 12 possibly 13, but for it not to hold very long. Today I was trying to decide if I should sell some of my MP and Tesla puts I had bought recently. I noticed that both SPs had a high on 4/4. I started to look at other green sector stocks and was surprised to see that every one had fallen in the last week. I have said when the correction starts it will hit stocks with high multiples when Market Cap is divided by yearly Profits or Book Value or Revenue. If this is a lost of optimism in green stocks we will see Lynas fall more. Except Tesla all these stocks are down to day MP -4.77%, Tesla +1.13%, BYDD -1.15% NIO -1.17%, REMX -1.60%, LYC -1.42%. I watch REMX -NV more than REMX. It is the actual value of the shares held in the fund. It was down -4.46%. Looking at entire green picture I think I will hold my puts for a few more days.
Maybe Lynas SP to day has little to do with Lynas, just a fall across all green stocks. Just a thought.
LYC Price at posting:
$9.69 Sentiment: Sell Disclosure: Not Held
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