The stock of American Lithium Corp (CVE:LI) hit a new 52-week low and has $0.39 target or 14.00% below today’s $0.46 share price. The 5 months bearish chart indicates high risk for the $20.30 million company. The 1-year low was reported on Sep, 13 by Barchart.com. If the $0.39 price target is reached, the company will be worth $2.84M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 435,122 shares traded hands or 67.53% up from the average. American Lithium Corp (CVE:LI) has risen 6.00% since August 14, 2016 and is uptrending. It has underperformed by 10.49% the S&P500.
American Lithium Corp., formerly Menika Mining Ltd., is an exploration-stage company. The company has a market cap of $20.30 million. The Firm is engaged in the acquisition, exploration and development of lithium deposits throughout the Americas. It has a 5.06 P/E ratio. It holds options to acquire Nevada lithium brine claims totaling over 20,790 acres, including over 18,550 acres in Fish Lake Valley, Esmeralda County, and the 2,240-acre San Emidio Project in Washoe County.
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