LTR has experienced an extremely volatile 12-months, including a $6.6bn failed/blocked takeover bid by US chemical business Albemarle – the $3 offer looks mighty attractive today. As most subscribers know, Gina Rinehart built a blocking stake in LTR, making the bid all too hard and leaving her owning over 18% of the $3bn lithium business. A relatively small 7.4% of LTR was held short on the 13th of this month, a brave trade for us in this “situation stock”.
- We can see another ~30% upside for LTR over the coming months, but it’s a bold play.
MM is bullish toward LTR
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