Stock prices are cyclicalStock prices are cyclical by nature. Companies that have no revenues are more volatile, and resource companies have the added beta induced by the prices of their underlying commodities.
A company can only progress its business as best it can and, as long as it is not a pump and dump, it needs to largely ignore the inevitable ups and downs and continue to create inherent value.
If you bought ETL in March 2020 and sold it ten months later, youwould have made thousands of percent in profits. If you chased it and bought in, say, Feb 2021, you ended up in a world of pain.
Neither had a lot to do with the company. It was largely lithium prices rising rapidly and then collapsing, and was a sectoral rotation issue where hot money came into the sector and then left, and fundamentals reasserted themselves.
This is a geat comany, in my opinion, and I want to buy back in at some point, so happy to see the price fall as the EV revolution has slowed but has a long way to go.
All I can control as an investor is to identify a good company and try to find a good entry point, and then take a profit or cut my losses as things unfold. To curse management for selling shares is meaningless as they have a right to sell as well. They can't be expected not to participate in value that they have created.
If you don't think this company is worth holding, sell and move on. If you see value, hang on and buy some more when you think it is undervalued again. These are tough decisions to make but if you are lucky, there is a lot of money to be made.
And yes, you have the right to curse if you have lost money. I've done it a lot over the years, but quitely to myself.