Core Lithium share price slides 7% amid market-wide rout

Core adds to the list of shares in the red today.

| More on:
Man going down a red arrow, symbolising a sliding share price.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • Core Lithium joins the list of ASX shares trading in the red today 
  • Investors have sold off the stock en masse pushing shares 5% lower at the open 
  • Despite the headwinds, Core Lithium remains up more than 360% for the last 12 months 

The Core Lithium Ltd (ASX: CXO) share price has slipped 7% in early trade on Tuesday and now rests at $1.17 apiece.

In broad market moves, the S&P/ASX 300 Metals and Mining Index (ASX: XMM) has slipped 6% into the red towards its lowest level in over a month.

TradingView Chart

What's up with the Core Lithium share price?

Investors have sold Core Lithium shares amid a market-wide selloff on Tuesday where the benchmark had slipped 5% at the open.

Before today's price action the stock had been lumpy after trading in a set of peaks and troughs for the past 3 months.

The upside case was also made by TMF's Brendon Lau earlier in June as well, citing several drivers in the investment debate.

However, the Core Lithium share price has managed to stay in the green and secure a 99% gain this year to date, outstripping most other ASX shares.

The ASX lithium basket was hit hard in early June following a note from Goldman Sachs outlining its more downbeat view of the sector.

Since the update, it's been a wobbly ride for the Core Lithium share price, and shares have again trended south as investors sell off ASX shares en masse today.

With numerous shares hitting 52-week lows – in the double digits – the downward pressure is palpable.

Macquarie had given its vote of approval for ASX lithium shares last week, adding its view on concerns plaguing the lithium debate.

It seems the verdict's out on what's next in store for the lithium market in the coming years.

Despite the headwinds, Core Lithium remains up more than 360% for the last 12 months.

Should you invest $1,000 in Westpac Banking Corporation right now?

Before you buy Westpac Banking Corporation shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Westpac Banking Corporation wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Resources Shares

Copal miner standing in front of coal.
Resources Shares

How much upside does Macquarie tip for New Hope shares?

A softer-than-expected quarter has impacted the broker's view.

Read more »

2 people at mining site, bhp share price, mining shares
Resources Shares

Rio Tinto share price pushes higher on $1.4 billion lithium agreement

Rio Tinto shares are gaining major lithium exposure.

Read more »

Miner looking at a tablet.
Resources Shares

Up 73% since April, why Mineral Resources shares could keep charging higher

A leading expert says that Mineral Resources shares remain ‘heavily undervalued’. But why?

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Resources Shares

Guess which ASX 200 mining stock is sinking 7% following its quarterly update

Let's see how this miner performed during the third quarter.

Read more »

Miner looking at a tablet.
Resources Shares

What's the latest broker ratings on BHP shares?

There's an air of caution floating about BHP shares even with bullish ratings.

Read more »

A young African mine worker is standing with a smile in front of a large haul dump truck wearing his personal protective wear.
Resources Shares

BHP shares last traded at $50 in 2023. When will they get back there?

Let’s dig into the potential for BHP shares to rise.

Read more »

Man with rocket wings which have flames coming out of them.
Share Gainers

Guess which ASX All Ords stock just rocketed 21% on 'exceptional' results

Investors are sending the ASX All Ords stock flying higher on Wednesday. But why?

Read more »

A mature age woman with a groovy short haircut and glasses, sits at her computer, pen in hand thinking about information she is seeing on the screen.
Resources Shares

Guess which prominent Super fund just offloaded its remaining Mineral Resources shares?

This super fund has had enough.

Read more »