Chart, page-7055

Sorry to hear FF.
This will no doubt go down as a lesson learnt. The good thing is that it did not cost you any money. Perhaps you can buy them back at a similar price?? They did close at $3.49 so it may be possible to pick them up for around the same money and just pay the commission??
This rally is just at the start. we have not seen any panic buying just yet. We simply tracked the rest of the Li players - some better than others!!
The catalyst for this rise may become more apparent over the next few days. But my gut feeling is that the market is scratching their heads regarding the VW announcement of the 20B euro order for batteries - but no supplier (of Li) identified. There is likely speculation that someone will be locked up in a LT supply deal. And there is the thing that will bring the MS assessment undone - Li is not like other commodities such as iron ore where the market determines the future price. Here (in the Li space) the price of the commodity is driven by specific deals and is not reference-able (if that's a real word) to a market price.
Put it another way, if GXY has managed to land either VW or BMW in a long term supply contract, then the MS BS on oversupply is irrelevant as GXY would have secure revenue streams for the foreseeable future. This is exactly what Joe Lowry was saying, and why the smart money was buying GXY over the last few weeks.
GLTA.