..you don't know how bad lithium business has been until you see...

..you don't know how bad lithium business has been until you see what the two leaders are facing
..both ALB and SQM suffered losses in Q1 2024, which led it to undertake restructuring
..ASX lithium leaders have yet to show a poor financial result from lower lithium price but that is coming in the next quarterly. The last time PLS showed its NPAT numbers was for H1 FY24 which was $220m, that was with an average SC6 price of $1600+.
..Compared to US lithium stocks, ASX lithium leaders have fallen less and trading at higher valuation premium and now playing catch-up to the downside.

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6
0	Lithium Stocks	Market Cap (A$Bil)	Drop from Peak	Peak	PE x	Note
1	ALB	$16.84	-70.6%	7 Nov 2022	20.48	-$180m operating loss Q1 24
2	SQM	$17.45	-64.0%	23 May 2022		-$869m net loss Q1 24
3	ALTM	$5.41	-52.7%	2 Jan 2024	17.91
4	LAC	$0.87	-89.0%	Nov 2021	n/a
5	MIN	$10.52	-44.0%	24 Jan 2023	26.84
6	PLS	$9.24	-43.4%	8 Nov 2022	40.70	2025 proj
7	LTR	$2.21	-71.3%	16 June 2023	71.80	2025 proj