Why Lithium Americas Stock Crashed Today
Shares of lithium mining start-up Lithium Americas (NYSE: LAC) crashed on Tuesday, falling steeply in morning trading and never really recovering. The stock was down 12.9% on the day.
Image source: Getty Images.
Despite being not yet operational, and having no revenue to its name (much less profits), Lithium Americas stock has had a terrific run as investors bid up lithium assets in anticipation of booming demand for the metal, which is used to make the batteries that power electric vehicles. Before today's decline, the stock enjoyed a three-day streak of constantly rising prices -- and over the past year, it's up 79%.
Source Fool.com
