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Why Lithium Americas Stock Was Down More Than 4% Today

TheMotleyFool

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Why Lithium Americas Stock Was Down More Than 4% Today: https://g.foolcdn.com/editorial/images/703708/electric-vehicles-evs-charging-station-battery-technology.jpg

Shares of aspiring lithium producer Lithium Americas (NYSE: LAC) are down 4.4% today as of 11:20 a.m. ET. There was no specific news from the company causing the decline.

This has been a tough year for many base-material and metal-mining companies. Soaring commodity prices have begun to moderate, and investors have been fleeing stocks as the Federal Reserve tries to fight inflation with its blunt-instrument interest rate hikes.

Nevertheless, lithium prices have been resilient and remain near all-time highs. Lithium Americas stock is down only 7% so far this year, handily beating the S&P 500's negative 22% return.

Source Fool.com

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