An Overview of Lithium Americas Corp.
Lithium Americas Corp. (LAC) stock is experiencing a downward trend since its debut as an independent public company in early October. Previously, it was associated with Lithium Americas (Argentina) Corp. On October 3, the company announced its separation into two independent public entities: Lithium Americas Corp. (LAC) and Lithium Americas (Argentina) Corp. (LAAC). Since then, the stock has witnessed volatility and downward movement.
Following the company’s trading debut, two analysts provided their insights on Lithium Americas Corp. On October 5, Stifel analyst Cole McGill initiated coverage with a Buy rating and a price target of $15. Scotiabank analyst Ben Isaacson also initiated coverage with a Sector Outperform rating and a price target of $20. However, the sentiment towards the stock took a hit when Deutsche Bank analyst Corinne Blanchard downgraded Lithium Americas Corp. from Buy to Hold and lowered the price target from $25 to $7, resulting in a decline in the stock price.
It is worth noting that Lithium Americas Corp. currently has elevated levels of short interest, with 12.46% of shares sold short. This indicates that there is a significant number of investors betting against the stock’s performance.
Current Stock Performance
As of the time of publication, Lithium Americas Corp. (LAC) stock was down 11.5% at $7.22 per share. This highlights the recent decline in stock value and potential concerns among investors.
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