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Jonathan Shapiro

Lithium play tanks 50pc in comical entry into ASX 200

Lake Resources’ calamitous first week as a top 200 ASX company is yet another demonstration of retail hubris and institutional apathy.

Jonathan ShapiroSenior reporter

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For Lake Resources and its retail shareholder army, this should have been a week of triumph. The stock was earmarked for inclusion in the S&P/ASX 200 three weeks ago, and on Monday it officially made its debut in the big leagues.

But its first week in the top 200 has been marked by calamity as the stock has nearly halved in three brutal trading sessions. Most of that plunge appears to be entirely self-inflicted.

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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com

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    Original URL: https://www.afr.com/markets/equity-markets/lake-to-the-party-lithium-play-s-comical-entry-into-the-asx-200-index-20220622-p5avtz