From the fool.Why are lithium shares falling?
The weakness being exhibited by ASX lithium shares today follows a poor night of trade for their US listed peers on Wall Street overnight.
The likes of Albemarle, Livent, and SQM all dropped into the red despite there being no news out of them.
Though, it is worth noting that the market has been charging higher since the release of a softer than expected inflation reading in the US last week. That sparked hopes that the US Federal Reserve would go easy with its interest rate hikes.
However,commentsfrom the Federal Reserve’s Chris Waller appear to have spooked investors. He warned that the market was overly optimistic and should brace for higher rates. This could have led to some investors reducing exposure to higher risk shares like lithium miners.
In addition, a surge in COVID cases in China dashed hopes of the reopening of the economy. Investors may believe this could impact demand for electric vehicles in the short term.
From the fool.Why are lithium shares falling?The weakness being...
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Last
$4.17 |
Change
-0.025(0.60%) |
Mkt cap ! $12.52B | |||
| Open | High | Low | Value | Volume |
| $4.21 | $4.23 | $4.13 | $51.14M | 12.27M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 110 | 226510 | $4.16 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.17 | 157459 | 57 |
View Market Depth
| Last trade - 15.48pm 07/05/2024 (20 minute delay) ? |
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Last
$4.15 |
Change
-0.025 ( 1.27 %) |
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| Open | High | Low | Volume | ||
| $4.21 | $4.23 | $4.13 | 3892254 | ||
| Last updated 15.59pm 07/05/2024 ? | |||||
| PLS (ASX) Chart |