Apparently, the market was balked by this new COVID strain, (Omicron).
Despite this, apparently there have been no deaths recorded so far from this strain.
This did not stop the manipulators and Sooth-Sayers feeding fear into the market.
So, this drop may be considered temporary as the buyers gain confidence and re-enter the market.
There is varying material and credibility on the above subject however, generally speaking, volatility has been encouraged via some of those in the wings.
‘Ground Breakers: Battery metals, energy transition reshapes the ASX 200
Lithium, battery metals and the broader energy transition have become dominant narratives across the ASX this year.
We have seen that play out in the recent rebalance of the S&P ASX 200.
Joining the bellwether group of ASX stocks is a second of Tim Goyder’s battery metals companies as Liontown Resources (ASX:LTR) rode a wave of momentum around its Kathleen Valley lithium project in WA’s Goldfields region.
$2.75 billion capped Liontown is actually down some 23% over the past month after announcing a discounted $490 million raising to substantially fund the construction of the Kathleen Valley mine, due to be operational by 2024.
But it is still up around 250% year to date after emerging as the next Australian lithium mine of scale ahead of its DFS last month.
Happy news as well for uranium bulls, who have seen Paladin Energy (ASXDN) rejoin the ranks of the ASX 200 three years after slipping into administration on troubles at its mothballed and almost ready to refire Langer-Heinrich uranium mine in Namibia.
Battery metals adjacent Novonix (ASX:NVX) has also crept into the ASX 200 despite shedding a quarter of its value over the past week, while $5.5 billion capped lithium miner Orocobre (ASX:ORE) has charged into the ASX 100 after its merger with Galaxy Resources.
DN) rejoin the ranks of the ASX 200 three years after slipping into administration on troubles at its mothballed and almost ready to refire Langer-Heinrich uranium mine in Namibia.
