"Noob question here so forgive me.
Lithium taking a real beating today, PLS down 6%, AKE down 4%, WR1 hurting, CXO, etc
I know it is a sh&* day in general, but for those of you more experienced hands in commodity trading, is there a publication, or anything that could help me to understand why Lithium gets smashed so regularly ?
Thanks in advance."
Higher interest rates for longer is a significant headwind for Equities in general.
War in Ukraine and the mess in Middle East are also pushing yields higher on a flight to quality.
China property prices in decline after decades of over development fueled by various State stimuli - chickens now coming home to roost as major developers face balance sheet duress.
Negative wealth effect from falling property prices has demand implications for other consumer spending, like EV's.
PLS exports most of its raw material into China.
Li stocks and particularly PLS (most shorted stock on ASX at 12%+) are currently a favourite hedge fund short play on the thematics of higher yields and falling CN property prices / Li prices /consumer EV demand.
Oh, and LTR rumoured to be placing $400m at $1.80.
"Noob question here so forgive me. Lithium taking a real beating...
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Last
$4.04 |
Change
0.075(1.89%) |
Mkt cap ! $12.33B | |||
| Open | High | Low | Value | Volume |
| $4.07 | $4.20 | $4.03 | $62.42M | 15.16M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 19 | 115574 | $4.03 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.04 | 157331 | 52 |
View Market Depth
| Last trade - 13.33pm 30/04/2024 (20 minute delay) ? |
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Last
$4.04 |
Change
0.075 ( 2.47 %) |
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| Open | High | Low | Volume | ||
| $4.08 | $4.20 | $4.03 | 4266653 | ||
| Last updated 13.51pm 30/04/2024 ? | |||||
| PLS (ASX) Chart |