LTR was the worst-performing ASX200 stock on Wednesday, plunging over 18% as the hot money exited. This high-cost producer needs lithium to extend its recent advance, not fall as it did yesterday, to turn the dial from a profitability perspective. The miner’s recent capital raise at 73c has strengthened the company’s balance sheet, and with the Albanese government investing $50 million as part of the capital raise, it feels that support is likely into further weakness below 80c.
- We can see LTR breaking above its recent $1.06 high in the next year, but its journey is likely to be volatile. We own LTR in the Emerging Companies Portfolio.
MM is cautiously bullish towards LTR
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