What does MM think of Allkem (AKE)?
I have a pool of AKE shares and note that directors have been selling. This along with the state of things ATM should I continue to hold?
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Answer
Hi Rohan,
AKE has rallied over 3-fold since early 2021 so it comes as no surprise that some insiders are taking a little $$ off the table. The stock was trading around $14 on Wednesday, Richard Saville (Director) and Perez de Solay (MD) have indeed sold stock over the last year but at the end of August the former sold over $20mn worth at $13.85.
We cannot give personal advice at MM but there are a number of alternatives in the lithium space such as Pilbara Minerals (PLS) for any investors who have been unsettled by these recent sales.
