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GALXF - Galaxy Resources: Bad News Will Be Punished In A Lithium Bear Market
Galaxy Resources Ltd
Shares of Galaxy Resources (GXY.AX/GALXF) closed Thursday's session down -11.62% on the heels of the company releasing a string of bad news. The already beaten-up and battered stock is now down a staggering -43% over the last year, with shares of GXY currently trading at A$1.635/share.
Because the broader lithium sector as a whole is operating in a bear market, there is little slack for mistakes right now and the prevailing mentality from traders at this time is to sell first and then ask questions later. In other words, patience