Lithium Americas Corp Newco (LAC)

Shares of Lithium Americas Corp (LAC) dropped by 12.75% from $8.16 to $7.12 in the trading on Thursday, October 19, 2023. The reasons why LAC stock down include:

• Bank of America's Revised Outlook: Bank of America revised its outlook for lithium prices, projecting a 20% to 50% reduction from 2023 through 2025. This downward revision likely raised concerns among investors about the future profitability of lithium-related businesses, impacting LAC's stock performance.
• Decline in Lithium Carbonate Price: The spot price of lithium carbonate in China experienced a substantial decline, dropping to $23,850 per ton. This represented a staggering 70% decrease from its peak in November of the previous year. The sharp decline in lithium carbonate prices signaled challenges in the lithium market, which could have negatively affected LAC's prospects.

Shares of Lithium Americas Corp. (LAC) dropped by 10.33% from $9.10 to $8.16 in the trading on Wednesday, October 18, 2023. The reason why LAC stock down is due to a surprising downgrade by Deutsche Bank analyst Corinne Blanchard, who downgraded the stock from Buy to Hold and lowered the price target from $25 to $7. The unexpected downgrade was based on the perception that the company had become "richly valued after spin-off." This revised price target suggests a more cautious outlook for Lithium Americas, indicating potential challenges ahead for the company, which in turn negatively impacted investor sentiment and the stock price.