The Core Lithium Ltd (ASX: CXO) share price has been a strong outperformer over the medium and longer term.
But not today.
Core Lithium shares closed yesterday trading for $1.17 and are currently trading for $1.13, down 3% in morning trade.
The fall comes despite a positive start from the S&P/ASX 200 Index (ASX: XJO) on Thursday. The benchmark index is up 0.30% at this same time.
But it's not just the Core Lithium share price lagging the benchmark today.
The S&P/ASX 200 Materials Index (ASX: XMJ) is down 0.7%. And ASX lithium shares are broadly falling.
The Pilbara Minerals Ltd (ASX: PLS) share price, for example, is down 5.2%, while shares in rival ASX lithium stock Allkem Ltd (ASX: AKE) are down 3.8%.
There's no price-sensitive news out from Core Lithium today.
And the healthy long-term outlook for Australian lithium exports remains unchanged.
So, following a big run higher for much of the past year, today's sell-off appears to be largely driven by some profit-taking.
Image source: Getty Images
Core Lithium share price snapshot
Shares in Core Lithium are up a whopping 136% since this time last year. An impressive return, given that the ASX 200 is down 8% over the 12 months.
