Why Standard Lithium Stock Sank on Monday

Lithium stock Standard Lithium (NYSEMKT: SLI) tanked Monday afternoon, dropping as much as 11.6% by 2:30 p.m. EDT. There's one price point you'd want to note to understand why the lithium stock plunged: 14 Canadian dollars.

Mid-last week, investment banking company Canaccord gave Standard Lithium stock a price target of CA$14 per share, up significantly from its previous price target of CA$9.25 a share, based on the company's preliminary assessment study for a lithium project released the previous day.

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Source Fool.com