Bleecker Street Research short Lithium Americas, says shares will ‘collapse’

In a recently published report, Bleecker Street Research says it is short Lithium Americans, “a pre-revenue junior miner with aspirations to turn its lithium clay deposit at the Thacker Pass mine in Nevada into the world’s sixth-largest lithium producer by 2028, eventually rising to 25% of global supply.” Bleecker believes the company’s Thacker Pass mine is “grossly uneconomic,” Lithium Americans is an “underfunded, Vancouver-based stock promotion,” and that its “DOE loan approval is a double-edged sword: the program requires companies applying for loans to have sufficient cash to finalize loans.” Overall, “LAC is a lithium miner pursuing what we believe to be a futile mining method that we don’t think will work. We think LAC’s Conditional DOE loan is DOA. And think that LAC shares will collapse in further massive dilution,” Bleecker added in a post on X.