Why Lithium Americas Stock Dropped Wednesday

Howard Smith, The Motley Fool
·2 min read
Why Lithium Americas Stock Dropped Wednesday

Shares of lithium mining company Lithium Americas (NYSE: LAC) dropped double-digits Wednesday, after the company reported fourth-quarter and full-year 2020 results yesterday. The mining company remains pre-revenue as it works on developing its two lithium mining project sites. Today, Canaccord Genuity analyst Katie Lachapelle maintained a buy rating on the stock, but lowered the Canadian firm's price target to about US$24 per share.