The profit takingPartially it was done during the rise, volume was massive and many exited during that time.
Now, we see second wave - as stock stopped growing, it cannot do it forever (I wish!), many satisfied with the profit and exiting.
Others - exiting on light panic and follow "the crowd", if it fallen now, it may fell further and were is the bottom. Risk to lose what they have is always a pressure.
Li market is not for nervous people....
I was seriously thinking to do the sell after it went above $3.30 just to come back during the correction. Obvisously, woud be good decision, but I am not good at speculating.
$500 market cap looked too early, but it had some fundamentals and could be explained with optimistic arguments (demand, quality of deposit, comparison to LAC).
Now, "problem solved". At $2.50 NLC has strong fundamentals and totally worth holding.
$360M market cap and $60M cash, ongoing FS, imroving grades, adding resources, surging Li demand...
Also, present correction may gave the final answer to investors who questioned $3.05 financing.
Management "felt" timing very well, once again.
Betting on good management is never wrong decision and it is part of company fundamentals too.