18-Apr-2024
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Codelco CEO promises to seek community buy-in after groups suspend talks
Seeking Alpha News (Tue, 16-Apr 4:57 PM ET)
The Global X Lithium & Battery Tech ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global Lithium Index. The Global X Lithium & Battery Tech ETF (LIT) invests in the full lithium cycle, from mining and refining the metal, through battery production.
Global X Lithium & Battery Tech ETF trades on the ARCA stock market under the symbol LIT.
As of April 18, 2024, LIT stock price declined to $42.91 with 272,605 million shares trading.
LIT has a beta of 1.12, meaning it tends to be more sensitive to market movements. LIT has a correlation of 0.24 to the broad based SPY ETF.
LIT has a market cap of $1.54 billion. This is considered a Small Cap stock.
In the last 3 years, LIT stock traded as high as $97.13 and as low as $39.26.
LIT has underperformed the market in the last year with a price return of -31.4% while the SPY ETF gained +22.3%. LIT has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -4.0% and -6.3%, respectively, while the SPY returned +6.1% and -3.8%, respectively.
LIT support price is $42.37 and resistance is $43.93 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that LIT stock will trade within this expected range on the day.