....platinum and palladium used to be the best performing commodities which fueled the CHN exuberance
....as lithium did to PLS.
....now lithium is going down the path platinum/palladium did, PLS stock price is making lower lows and has fallen -45% from its peak. The optimum returns were struck in just over 2 years hold. Since then, it has been retracing and chipping away the gains since Aug 2023, a year ago.
....it is poised to retrace down to $2.10 to complete the X-mas tree for a further -28% downside. Even at that $2.10 price, its market cap is $6.3B (now $8.78B) s0 it is not cheap by any means. A market cap of $6.3B gives a PE multiple of 42.86x based on 2025 Bell Potter's latest NPAT projection ($147mil) [17.12x based on 2024 NPAT of $368mil]. And yet Bell Potter used $1200/ton SC price for 2025, when it is already $937 now.
LS — TradingView
