Short-sellers are lifting bets against the most popular stocks to own among a new generation of investors in a direct clash of views.
Benchmark lithium carbonate prices fell for an eleventh straight day in China on Monday to an 11-month low, as short sellers raised their bets on Australian lithium stocks falling in 2023.
In the past six months the short sellers won the upper hand over retail traders, with Core Lithium down 37 per cent, Lake Resources tumbling 52.7 per cent, and Sayona off 14.3 per cent.The steep declines are on the back of valuation concerns, easing lithium prices and mixed operating updates. The same day, Vulcan lifted its total capital expenditure projections for its European lithium project using a DLE to €1.5 billion , with Lake Resources boasting it can use DLE technology at its lithium brine projects in Argentina to bring up to 50,000 tonnes per annum of lithium carbonate to the market.in the past over claims the businesses are over egging their chances of securing financing and operational success using DLE.
Long development times mean Morgan Stanley expects North America to contribute just 52,000 tonnes of lithium carbonate to global supply in 2025, before that jumps to 208,000 tonnes in 2030 as North American governments help finance the energy transition.
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