A case of profit taking from investors can lead to a decline in the prices of stocks and that is what seemed to have happened with the American Lithium Corp (OTCMKTS:LIACF) stock this past Friday.
Due to profit taking from investors, the stock dropped by 10% last Friday but in this situation, it should be noted that it is still up by 9% over the past month. There has not been any news about the company in recent days but it might be a good idea to take a look at an announcement from the company back on June 29.
On that day, the company provided an update with regards to a breakthrough that it had made related to process development at the Tonopah Lithium Claims (TLC) Project located in Tonopah in Nevada.
The company revealed that according research conducted by Haven Research Inc, the roasting of lithium from the TLC project results in producing as much as 82% of lithium that has a much lower load of impurities. That was a significant breakthrough for American Lithium Corp and it was no surprise that the stock came into sharp focus among investors. Investors could do well to keep an eye on the stock this week.
Market Reaction:
On Friday, LIACF stock fell 2.65% at $1.3532 with more than 455k shares, compared to its average volume of 545k shares. The stock had moved within a range of $1.3100 – 1.4600 after opening the trade at $1.32. Over the past 52-week, the stock has been trading within a range of $0.0003 – 0.9580.
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