Standard Lithium (SLI)

Feb 7, 2022Trade Ideas

Weakness may be an opportunity with Standard Lithium (SLI).

Just the other day, the lithium stock took a hit following a short seller report. However, don’t be so quick to write off the stock. For one, the company is fighting back against the allegations. Two, the lithium story isn’t cooling off.

Remember, countries all over the world want a greener future, and millions of emission free electric vehicles on the roads. Even major automakers are adopting EV models, replacing fleets of gas guzzling autos. But for that to happen, we need lithium.

We also have to remember the company is focused on its 3,140,000 tonne LCE Indicated Resource -150,000-acre joint venture Lanxess Project, located in south Arkansas.

And, according to CEO Robert Mintak’s interview with CNBC’s Jim Cramer, its Lanxess Project in Arkansas is well positioned to serve the U.S. EV market, and could help facilitate exports to Europe as well. Also, its project is located in the Smackover brine region of Arkansas – which is known to hold some of the richest lithium resources.

Standard Lithium is also oversold on the latest pullback.

Near-term, we’d like to see the SLI stock refill its bearish gap around $7.86 from a current price of $6.27. From there, we’d like to see it back to $11 a share.

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