leaky ship or bouncing off the low? probably the latter but ALB is flying from its quarterly yesterday. Nothing fancy"Revenue from the chemical surged 15.8% to $255.4 million in the second quarter, ahead of analysts’ estimates of $229.7 million, according to IBES data from Refinitiv.
Sales from the company’s largest segment lithium, used to make electric car batteries, rose only 2.3% to $324.8 million, compared with a 30.2% jump in the year-ago quarter. "
Perhaps its the fact that lithium is STILL PROFITABLE!! reality check mr. market, these companies are not bankrupt, they are simply making less of a monster than they used to. In Galaxy's case, we are valued at 115m (excl cash) on an asset that makes money with 2 developement assets in queue. One of these development assets is at the door step for US manufactures, the other which is an unquestionable tier-1 lithium asset or which there are hardly any left to hold..
All out, this was the correction the markets had to have, GXY just caught in the cross fire for this drop... I feel the Yuan will be stabilized , that was merely a warning shot to the genius trump (sarcasm). China will formally retalliate which might send a 2nd drop however i feel markets will hold the bottom now, and with US earnings near complete. the crazy cheap money will flow back for yet another unsustainable record high rally... Hopefully galaxy has a JV partner before the inevitable crash comes.. I feel they will have alot going for them by the end of this year, just in time to cushion the blow.
How will china retaliate? I think they are out of tariff options now. Anything that looks like a restriction of export qouta's in REE will have a huge effect to all US strategic materials - Lithium!
