The sector just reached a new low beating out Feb 2024. JLL is suffering like everyone else. Tax selling too as mentioned. I'm just hoping to pick some up on the cheap before the end of the month. Even if I miss that by a margin, the current market cap will be very different when the next cycle arrives. I suspect the sector is near the bottom now as sub $100k carbonate isn't going to spur sufficient investment to keep up with the GWh cell demand growth (40%+ last year YOY). Could sit in the gutter for some time still but as long as those EVs and ESS keep growing at double digits and prices stay low, supply expansion will be blunted.
Bottom plot shows % down from highs of different stocks in the sector (mostly ASX but some from NYSE and China). The top plot shows similar the same plots but in a single metric with X being the sector mean (so sector is down -74% from all time highs on average just beating our Feb 24). In brackets in the legend is the carbonate spot price.
JLL Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held
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