I think the instability in the US and in particular one of 'The Magnificent Seven' that is the main driver of their stockmarket, Tesla TLSA is weighing on markets. Therefore an Li explorer but not yet a producer in Australia is vulnerable to sentiment shifts to the downside.
Musk is desperately unpopular with his DOGE antics mainly because it's becoming blindingly obvious that he's after cuts regardless of merit so he can justify tax breaks for himself and his rich buddies. The richest man in the world robbing pensioners and the unemployed isn't sitting right. Let alone what he's doing to veterans.
Tesla is under siege with boycotts, demonstrations, and arson and other physical attacks on dealerships and vehicles so much that the entire US economy is starting to freeze up.
Not even spruiking of the Tesla fleet by Trump and Co has done the trick. When public mistrust breaks out the entire system of social stability is threatened and markets don't like uncertainty.
Even the Murdoch-owned WSJ is writing about how freaked out CEOs are about the instability and the likelihood of a serious recession, as opposed to an ordinary one. Google it.
I agree that WC8 is well poised but I'm not convinced the market is about to do a power lift just yet. Under other conditions, certainly it should happen, but conditions don't look right for that just now. Everyone is risk off and paranoid it's certainly not ordinary market conditions in terms of sentiment.
Could be wrong though, and therefore watching closely.
Overall I've been predicting an end to this Trump regime, by mid May. Again I could be wrong of course, but this is a clusterf*ck of a situation, technically speaking.
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WC8
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Last
13.0¢ |
Change
-0.010(7.14%) |
Mkt cap ! $174.7M |
Open | High | Low | Value | Volume |
14.0¢ | 14.0¢ | 12.8¢ | $424.9K | 3.236M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 122922 | 13.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
13.5¢ | 83500 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 122922 | 0.130 |
13 | 1516306 | 0.125 |
9 | 621767 | 0.120 |
4 | 308750 | 0.115 |
3 | 724045 | 0.110 |
Price($) | Vol. | No. |
---|---|---|
0.135 | 80000 | 2 |
0.140 | 330889 | 9 |
0.145 | 588050 | 11 |
0.150 | 1110836 | 6 |
0.155 | 250000 | 3 |
Last trade - 16.10pm 16/06/2025 (20 minute delay) ? |
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WC8 (ASX) Chart |