Lithium stocks rallied strongly on Thursday, led by LTM, on speculation that Joe Biden would step aside as the Democratic nominee before the November US Presidential election. When the ASX closed yesterday, the bookmakers had Trump $1.57, Kamala Harris $5.00, and Joe Biden $7.50, i.e., the incumbent President is only the third favourite in what’s supposed to be a two-horse race! We touched on Lithium (Li) on Tuesday, and the risk/reward still doesn’t stack up for MM to take an aggressive position in this embattled battery chemical sector, including LTM, i.e., even if Biden steps down, Trump is probably still the favourite for a return to the Whitehouse.
- We would rather play the lithium recovery through Pilbara (PLS) and Mineral Resources (MIN) – MM is long MIN in our Active Growth Portfolio
MM is neutral towards LTM
Add To Hit List
