NVX
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1.61% 61.0¢ novonix limited

NVX Chart, page-1802

  1. dontlistentome
    1,915 Posts.
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    03/12/21
    11:40
    Post #: 58048600
    This sell off is most likely linked to the AFR's article yesterday saying it was overvalued - https://www.copyright link/markets/equity-markets/novonix-australian-ethical-could-be-in-a-green-stock-bubble-20211202-p59e17

    Novonix, Australian Ethical could be in a green stock bubble

    Over the quarter Novonix spent just $906,000 on research and development, with $1.5 million spent on product and operating costs.

    Its shares are up 2890 per cent over the past five years and Novonix has issued equity to leave it with $248.8 million cash on hand as at September 30. In August, US group Phillips 66 took a 16 per cent stake via a $US150 million investment for 77.96 million shares. That works out around an FX-adjusted $2.70 per share, versus this week’s peak of $12.25.

    There are dozens, or perhaps hundreds of other lithium or green-focused businesses that will rely on positive sentiment and announcements (rather than cashflows) to justify staggering valuations over the next 12 months.

    Lake Resources, Liontown Resources, Core Lithium, Arizona Lithium, Sayona Mining and short seller target Vulcan Resources have commonly soared 500 per cent to 1000 per cent over the past 12-24 months thanks to exciting stories, a green premium, and expectations for rising lithium prices.

    In reality bubbles often don’t pop, but deflate as momentum reverses and speculators using a mixture of technical signals and guesswork sell shares based on recent trends. Whether the green stocks’ valuations prove justified on fundamentals or a bubble deflates remains to be seen.



    Let the paperhands/profit takers rinse through and watch it recover. Will be in the ASX200 next week.
    Last edited by dontlistentome: 03/12/21
    NVX Price at posting: $10.68 Sentiment: Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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Last
61.0¢ 		Change
-0.010(1.61%) 		Mkt cap ! $300.5M
Open High Low Value Volume
62.0¢ 63.5¢ 61.0¢ $572.5K 928.4K

Buyers (Bids)

No. Vol. Price($)
2 52079 61.0¢
 

Sellers (Offers)

Price($) Vol. No.
62.0¢ 1000 1
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Last trade - 16.10pm 14/08/2024 (20 minute delay) ?
NVX (ASX) Chart
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