Novonix (ASX:NVX) shares fall, how are other Lithium stocks faring?

June 28, 2022 06:43 PM AEST | By Priyanka Payal

Google News:

Image source: © Timonschneider | Megapixl.com

Recent News

What are next big copper projects? UBS tells when equipment makers cou...

EUR/USD poised to rack up more gains as ECB and Fed rate paths set to...

Carney launches ‘One Canadian Economy’ Act to unify trade, approvals

Trump signs orders to enhance drone defenses, support supersonic trave...

Highlights:

Novonix Limited shares traded 4.819% lower at AU$2.370 per share on ASX at 4:11 PM AEST today.

Shares of other leading Lithium players, including Argosy Minerals Limited, Vulcan Energy Resources, and Lake Resources N.L., were down 5.80%, 6.05%, and 4.05%, respectively.

The Australian share market extended yesterday’s gains as the ASX 200 closed 0.86% higher at 6,763.60 points today.

The share price of ASX-listed battery material & technology company Novonix Limited (ASX:NVX) slipped 4.819% at AU$2.370 per share on ASX at 4:11 PM AEST today. The fall in the company’s share price was seen, although it did not issue any market-sensitive announcement on the ASX board today. The share price of Novonix Limited has gained nearly 7.24% in the last one year. Coming to the stock’s year-to-date (YTD) performance, the company’s shares have fallen almost 77.47%.

Also watch:

The Australian shares market extended yesterday’s gains as the ASX 200 closed 0.86% higher at 6,763.60 points today. Six of 11 sectors closed higher today, where the gains were predominantly led by Energy, Utilities and Materials sectors. The S&P/ASX 200 Energy [XEJ] was up 3.62% at 10,266.10 points.

novonix

Image Source: © Charon| Megapixl.com

Novonix Limited falls in the Technology Hardware & Equipment industry group, and the company commands a market capitalisation of AU$1.21 billion. At the beginning of this year, Phillips 66 declared a strategic investment of US$150m in Novonix, developing Novonix’s synthetic graphite production for quality lithium-ion batteries.

Meanwhile, shares of other leading Lithium players, including Argosy Minerals Limited (ASX:AGY), Vulcan Energy Resources (ASX:VUL), and Lake Resources N.L. (ASX:LKE) were down 5.80%, 6.05%, and 4.05% respectively.

Unfollowing yesterday’s trend, the information technology sector declined 0.58% today. Shares of tech companies, including Xero Limited (ASX:XRO) and WiseTech Global Limited (ASX:WTC) fell 0.67% and 0.76%, respectively.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.