Market does not like how this went down, namely the cash burn rates and late raising. This occurred in a brutal macro setup for lithium, but it seems the market expected management to have been more careful with cash and see this coming.
Make your own mind up on if that's fair on management or not, but it's clearly been one of the reasons behind the pretty savage sell down considering this was one of the best Canadian lithium stocks and should be holding up way better than other lithium peers.
My personal opinion is that it was going to go down because of the macro anyway, but the above is why the market is angry. Regardless of if it's fair or warranted, their perception of the market darling is no longer as pristine as it was. I know I'm more wary about buying the dip here (I like the project lots).
Market does not like how this went down, namely the cash burn...
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Last
7.4¢ |
Change
-0.005(6.33%) |
Mkt cap ! $23.81M | |||
| Open | High | Low | Value | Volume |
| 7.7¢ | 7.7¢ | 7.3¢ | $65.53K | 891.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 93780 | 7.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 7.4¢ | 26554 | 1 |
View Market Depth
| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
7.4¢ |
Change
-0.005 ( 1.33 %) |
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| Open | High | Low | Volume | ||
| 7.5¢ | 7.5¢ | 7.3¢ | 95524 | ||
| Last updated 15.56pm 14/06/2024 ? | |||||
| GT1 (ASX) Chart |