Goldman-induced selloff. Not the first time Goldman Sachs has plenty of experience in triggering a broad-based selloff among battery metal stocks.
On 1 June, the investment bank wrote a note saying the "we see the battery metals bull market as over for now," due to an "outsized supply response well ahead of the demand trend."
On that day, names like Allkem, Pilbara Minerals and Core Lithium tumbled -15.4%, -22% and -20.4% respectively.
Notwithstanding other factors that may have influenced share price performance, it took the three lithium heavyweights roughly 2 months to recover from the Goldman-induced selloff.