DC1234 does his update posted various places. While GT1 is among the worst performers YTD there's a fairly large pool of poor lithium performers. According to his work, the following 20 lithium related stocks were down at least 65% since the start of the year to last weekend:
1MC, AS2, BNR, GL1, GLN, GRE, GT1, IR1, JLL, LKE, LPD, LPM, OCN, ODE, PAT, QXR, REC, TYX, WML & YAR.
There's also quite a few bigger names in the 50-65% range. You are factually wrong that only bankrupt and insolvent stocks trade like GT1. GT1 is trading like a previously loved and now unloved stock. The market was believing they had a chance to develop their project and now it doesn't. Management find themselves in a difficult place and the solutions aren't exactly obvious.
There's a lot of factors that appeal about GT1 but at the moment those factors aren't being recognised or valued in the share price. Will they be recognised some time in the future - who knows but I suspect so. Lithium demand is growing quickly at ~200-300kt LCE/yr. That speed needs a lot of new projects coming online and while enough are coming online in 2024 and probably most of 2025 to meet demand where is the supply coming from after that as very few projects will successfully FID in this environment.
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