SLI - Why Standard Lithium Shares Popped 28.8% on Wednesday
Shares of lithium mining stock Standard Lithium (NYSEMKT: SLI) jumped as much as 28.8% on Wednesday, recovering from a big decline yesterday. At 3:20 p.m. EDT shares were still up 18.5% for the day, but are down slightly over the past week. And given everything going on in the lithium market the confusion about the lithium market's future may last for months.
Yesterday's drop was driven by Bank of America predicting that lithium is likely to suffer from weaker demand as fewer people buy laptops to work from home and the supply of lithium goes up from new mines being built. As supply and demand goes, that would likely lead to lower prices for lithium and weak profitability for miners.
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Why Standard Lithium Shares Popped 28.8% on Wednesday