Lithium Americas Corp. ( (TSE:LAC) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Lithium Americas Corp. experienced a sharp decline in its stock price following Scotiabank’s downgrade to ‘Underperform.’ The downgrade was due to concerns over the stock’s unsustainable valuation after a dramatic 200% increase in just two weeks. Scotiabank advised investors to take profits now and consider buying again at lower levels. Despite the downgrade, the price target was raised to $5 from $2.75, acknowledging recent market enthusiasm but also highlighting the risk of overvaluation.
More about Lithium Americas Corp.
YTD Price Performance: 195.42%
Average Trading Volume: 26,920,629
Technical Sentiment Signal: Buy
Current Market Cap: $2.19B
For further insights into LAC stock on TipRanks’ Stock Analysis page.
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