Mixed messages for ASX lithium stocks in 2023
Marc Kennis, September 29, 2023
ASX lithium stocks … there may be further downside!
Our own Stuart Roberts explains the changing dynamics of the lithium market on Ausbiz!
Stuart hints towards potential waning interest in lithium, and ASX lithium stocks, attributing the cause to impenetrable market trends and a diminishing value. Recommending caution, he explains how the market value has primarily shown bearish instincts throughout 2023, barring a brief respite from April to June.
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Turning attention towards particular ASX lithium stocks, Stuart says Core Lithium‘s (ASX:CXO) is the fourth most targeted stock for shorting on ASX. He also underscores the severe compression of Latin Resources’ (ASX:LRS) stock value, decreasing by half since July – an ominous indication for the lithium market.
Stuart also airs concern over the potential risks in these fluctuating markets. He comments on the transforming environmental obligations of governments globally. Wrapping up his analysis, Stuart alludes to a potential pivot back to conventional energy stocks, such as oil, gas, uranium and even coal. He accentuates Australia’s abundant resource reserves and the perpetual demand for these commodities.
Watch the entire interview here!
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