Who knows but I wouldn't be so sure.
Graphite price are climbing, and a similar behaviour insulated lithium stocks for example from the brunt of the macro pullback thus far. While total car sales are heavily affected by recession, EV transition sales will continue to grow even during recession because they only represent only about 10% of total global sales thus far. So, while the macro fundamentals might be ugly, the sector fundamentals are strengthening along with the company fundamentals. It reminds me of the start of the current lithium boom as it pulled out of oversupply. Each to their own strategy.
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