...that's why peak of exuberance would never be re-visited
...exactly with EV/Lithium now in trough of disillusionment, getting to mass adoption/commoditised phase would not see it return back to its prior peak.
...when a company has first mover advantage in a sector brim with enthusiasm for growth, it front-runs its potential but as time progresses competition sets in, prior price advantages diminish and growth outlook crimped.
Every growth investor should study this chart thoroughly:
