[ad_1]
The firm’s series B stocks are experiencing their worst day since March, falling back to early August lows.
It seems that Tesla came to spoil the lithium party in global stock markets. And it is that after the last announcements of the company, the actions of the sector had strong falls, including an aggressive contraction in the Chilean SQM.
The series B papers of the company controlled by Julio Ponce they fell 9.20% on the day, being its worst day in the stock market since the peak of the correction of global stock markets due to the Covid-19 pandemic, in mid-March of this year.
The crash left her at $ 23,100 per share, its lowest value since early August, which moves them away from the maximum of more than a year and a half that he scored last week of $ 26,000, while series A papers – less liquid – fell 6.18% to $ 18,202.
This contraction dragged the benchmark S&P IPSA, which finds its lowest value since the beginning of April at 3,533.54 points, 2.78% below the close of the session yesterday.
Soquimich ADRs (American Depository Receipts) performed similarly, dropping 11.96% in New York.
But the local firm he’s not having a bad time alone. All the major competitors of the national lithium producer suffer sharp falls in international stock markets.
Thus, Lithium Americas Corp lost 21.9% of its value, Galaxy Resources lost 11.64%, Albemarle fell 15.57% and Orocobre lost 6.47%.
These results come after Tesla to announce plans to improve the technology of their batteries, lowering their production costs and decreasing the use of lithium in the process, which automatically cast a blanket of uncertainty over expectations for the mineral.
The decision of the electric car giant, according to analysts at Morgan Stanley, KayBanc and Baird, is bad news for the sector, as it could affect the price of the commodity.
[ad_2]
