Core Lithium and 2 other ASX 200 lithium shares plunging to 52-week lows

Lithium stocks like Core are exploring new lows today.

| More on:

Should you invest $1,000 in Australian Potash right now?

Before you buy Australian Potash 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 Australian Potash 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

Rede arrow on a stock market chart going down.

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

It's been a rough day for the S&P/ASX 200 Index (ASX: XJO) and most ASX 200 shares so far this Tuesday. After yesterday's sizeable drop, the ASX 200 is at it again today, with the index down another 0.84% at the time of writing. But let's talk about what's happening with Core Lithium Ltd (ASX: CXO) shares and some other ASX 200 lithium stocks.

Yesterday, Core Lithium shares closed at 18.5 cents each. But this morning, the ASX lithium share dropped as low as a flat 18 cents, a fall worth 2.7%. That's also a new 52-week low for Core Lithium stock, as well as a new three-year low.

But Core Lithium isn't the only ASX 200 lithium share exploring new depths today. The IGO Ltd (ASX: IGO) share price has also touched a new low point this Tuesday. IGO shares are currently down a chunky 1.02% at $6.81 each. But this company fell as low as $6.75 earlier this morning, another 52-week (and multi-year) low.

Arcadium Lithium plc (ASX: LTM) is another unfortunate newsmaker today. Arcadium shares are presently nursing a horrid 5.17% loss at $6.60 a share. Earlier today, we saw those shares get down to just $6.51.

That's technically a new 52-week low for Arcadum, but an impotent one, if we consider this company has only been on the ASX board since late December 2023. That's after Arcadium (originally Livent) merged with the old ASX-listed Allkem Ltd.

So it's not a great day to own most ASX 200 lithium stocks it seems.

Why are ASX 200 lithium shares like Core Lithium hitting new lows today?

There hasn't been much news out of Core Lithium stock, or any other lithium company today that might easily explain these fresh new lows. However, this entire sub-sector has been on struggle street for months now. Core Lithium shares themselves peaked way back in November 2022, when the company reached an all-time high of almost $1.90 a share.

But ever since, investors have been losing money. Since that high, the Core Lithium share price has tanked by more than 90%. We see similar moves playing out with other ASX 200 lithium stocks (although Core Lithium is one of the more drastic fallers).

These losses have accelerated over the past few months, thanks to lithium prices themselves falling off a proverbial cliff. This has resulted in funding issues for other lithium producers, mainly Liontown Resources Ltd (ASX: LTR). Last month, Liontown revealed that it has had a loan facility cancelled due to poor cash flow projections.

Core Lithium, along with other lithium shares, now regularly finds itself on the list of the ASX's most short-sold stocks.

As my Fool colleague James reported last week, at least one ASX broker reckons the company has even further to fall too.

So with all of this in mind, it's perhaps not surprising to see Core Lithium, along with other ASX 200 lithium stocks, hit a new 52-week low this Tuesday. Let's see if the company can turn things around over the rest of 2024.

Motley Fool contributor Sebastian Bowen 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 Materials Shares

A female miner wearing a high vis vest and hard hard smiles and holds a clipboard while inspecting a mine site with a colleague.
Materials Shares

Why are Fortescue shares charging higher today?

What is getting investors excited today? Let's find out.

Read more »

Business people discussing project on digital tablet.
Materials Shares

What does Macquarie think Liontown Resources shares are worth?

Let's see if analysts think that this lithium miner is in the buy zone or best avoided.

Read more »

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Materials Shares

Lynas shares charge higher on big news

What is getting investors excited today? Let's find out.

Read more »

Lion holding and screaming into a yellow loudspeaker on a blue background, symbolising an announcement from Liontown.
Materials Shares

Liontown Resources shares roar higher on big news

This lithium miner is catching the eye with some big news. Here's what is happening.

Read more »

Image of young successful engineer, with blueprints, notepad and digital tablet, observing the project implementation on construction site and in mine.
Materials Shares

What does Macquarie think BHP shares are worth?

Is now a good time to buy the miner's shares? Let's find out.

Read more »

Middle age caucasian man smiling confident drinking coffee at home.
Materials Shares

What does Macquarie think Pilbara Minerals shares are worth?

Is this lithium miner dirt cheap? Let's find out.

Read more »

Two miners standing together.
Materials Shares

Is it time to buy this beaten down lithium share?

This diversified miner’s share price has been hit on multiple fronts. What does it mean for investors?

Read more »

a mine worker holds his phone in one hand and a tablet in the other as he stands in front of heavy machinery at a mine site.
Materials Shares

Pilbara Minerals share price falls on 30% quarterly revenue slump

ASX investors are bidding down Pilbara Minerals shares on Thursday. Here’s why.

Read more »