Lithium Corporation (OTCMKTS:LTUM) Stock Sees Selling Pressure at a Higher Level
Lithium Corporation (OTCMKTS:LTUM) fell 6%, and the stock is down 10% in a week. The company that focuses on energy metals in the burgeoning energy storage industry and high-tech sectors has informed shareholders that it recently expanded the size of the BCV Sugar flake graphite deposit block in British Columbia and plans are underway to recommence work on the project in the Spring of 2022.
Market Stats
On Wednesday, LTUM stock slid 6.36% to $0.2316 with more than 158K shares, compared to its average volume of 209K shares. The stock moved within a range of $0.2230 – 0.2500 after opening trading at $0.2474
Lithium : Increases Claim Holdings
Graphite prices are more vibrant than they have been in recent years, with flake graphite demand from the electric vehicle battery sector expected to increase by over 35% in this year. (Source: Fastmarkets). Furthermore, recent global events have highlighted the importance of ensuring that we have a sufficient and readily accessible source of energy metals in North America.
The company purchased the property seven years ago and carried out geological and sample work throughout the subsequent field seasons, resulting in trenching operations in 2015 and 2018 at the “Weather Station” area and a location halfway between that region and the Taylor Creek zone. So in the coming weeks, LTUM is worth watching.
Traders Corner
LTUM stock is trading below the 20-Day and 50-Day Moving averages of $0.25 and $0.24 respectively. However, the stock is trading above the 200-Day moving average of $0.31.
