Why Lithium Stocks Went Down Today
Lithium stocks crashed on Wednesday, with nearly every stock from the industry trading deep in the red by afternoon. Here's how much the worst-performing lithium stocks had fallen as of 12:50 p.m. ET Wednesday:
You'd think lithium prices would be the culprit, but that's not the case. Lithium prices continue to hold up strong -- it's where lithium prices could head that's spooked the markets today.
Lithium prices have shot for the moon in recent months, even hitting an all-time high in the month of March. Prices are still up almost 69% year to date as of this writing, according to data from Trading Economics. As prices rose, so did shares of lithium companies. It didn't matter whether a company was an established one or had yet to generate any revenue from lithium.
Source Fool.com
