I have another theory:
During Covid many people were given free money and were sitting at home bored. After years of falling interest rates in Australia - their bank accounts were full.
Heaps of spare cash and nothing to spend it on due to lock downs resulted in lots of time surfing the internet. What’s this stock market? Easy money right?
2020 Biden announces a $1.7 Trillion Climate Plan and begins heavily pushing EV’s and renewables. What do EV’s need? Lithium of course.
Enter the pumpers with parabolic graphs. Demand to the moon. Everything with anything to do with Lithium gets bought. “Lithium” companies become like favourite footy team meme stocks. FOMO drives share prices to the stratosphere. Nosebleed territory.
2022 happens and there is a one off shortage of Lithium that creates an epic price bubble fuelling further FOMO.
China that had quietly been the world leader in EV’s for 10+ years decides it doesn’t want to pay those prices and quickly finds other sources and geographies.
Prices begin to crash as inflation and reality begins to set in…
Shorters smelling blood load up as the tide starts to go out.
Retail left holding the bag full of hopium.
Cheers
DYOR IMO
I have another theory:During Covid many people were given free...
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Last
93.5¢ |
Change
-0.050(5.08%) |
Mkt cap ! $2.266B | |||
| Open | High | Low | Value | Volume |
| 97.5¢ | 97.5¢ | 93.5¢ | $49.48M | 52.51M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 37 | 2797617 | 93.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 94.0¢ | 341986 | 5 |
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| LTR (ASX) Chart |