Shares in Core Lithium Ltd (ASX: CXO) are slipping today and now trade 4% lower at $1.24 apiece.
Investors were quick to unload Core Lithium shares early on Tuesday with prices faltering immediately from the open.
Despite the calamity, the Core Lithium share price is still well aloft the benchmark S&P/ASX 200 Index (ASX: XJO).
What's up with the Core Lithium share price lately?
Despite today's backward step the company's share price still gained 79% in March, especially after announcing a binding agreement with Tesla.
Core Lithium will supply up to 110,000 tonnes of spodumene concentrate to Tesla as part of the agreement from its Finniss Lithium Project near Darwin. The contract is set for 4 years.
As lithium carbonate continues to defy odds and scream to new heights in 2022, Core Lithium has been riding the wave into shore.
It also announced recently the planned acquisition of the Shoobridge project by the world's largest gold miner, Newmont Corporation (NYSE: NEM).
The project is set to "provide synergies and complementary lithium growth opportunities" according to management at the time.
Core Lithium is the first company to explore the site at Shoobridge, in the hopes of uncovering lithium deposits on the land.
The company's Finniss Project is set to produce its first lithium concentrate in the last period of 2022, according to prior language from Core Lithium.
Since the new year began, Core Lithium has tracked the metals and mining index in remarkable fashion (seen below), which is something worth thinking about.
In the last 12 months, the Core Lithium share price has soared over 406% and is up another 110% this year to date.
