Why SQM, Standard Lithium, and Piedmont Lithium Stocks All Dropped Today

The bull run on lithium stocks seems to have run its course.Last week, lithium stocks exploded higher after British mining giant Rio Tinto Group (NYSE: RIO) announced it was buying Arcadium Lithium (NYSE: ALTM) for $6.7 billion, a move that seemed to signal that the cyclical lithium market has hit bottom and is ready to bounce back. Shares of lithium companies entirely unrelated to that specific transaction also surged, with Piedmont Lithium (NASDAQ: PLL) in particular gaining 21.5% on the week, and Standard Lithium (NYSEMKT: SLI) shooting up a staggering 48.5%.Larger Sociedad Química y Minera (NYSE: SQM), also known as SQM, scored a more modest 1.2% gain.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool