ASX to open lower; Wall Street dips; US Treasury yields at 16-year highs; Jackson Hole meeting looms. Flurry of corporate earnings scheduled.
Investors who bought Australian lithium stocks at the start of the year could have doubled their money or lost more than half of it – reflecting the extreme volatility of companies mining one of the world’s hottest commodities.
Demand for lithium has surged in recent years as carmakers, driven by climate policies, attempt to reinvent themselves as EV manufacturers. That’s put a spotlight on stocks such as lithium miners that are part of the supply chain. Australia’s lithium shares have tended to soar when companies announce a discovery, often with little regard to its size, accessibility or grade, said Carrick Ryan, portfolio manager at Westbeck Capital Management, an early investor in Pilbara Minerals and Patriot Battery Metals.
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