For anyone confused as to why this $100m MC company that just signed a multi billion $ offtake deal with BMW for 50,000 tonnes of lithium hydroxide - currently worth around AUD$5.7b, isnt skyrocketing today. The below should indicate how much ASX battery stocks are influenced by macro situations, and bizarrely tend to all be pegged very closely to the share price movement of Tesla.
If TSLA has a red day overnight, virtually all ASX battery related stocks follow with a red or at best very lacklustre day.
Tesla has been tanking for the past quarter - and we follow.
When it returns to favour, and the market digests this purchase order for $5b+ lithium chemicals, our share price will head north in due course.
For anyone confused as to why this $100m MC company that just...
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