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Monday, November 30, 2020

Lithium Americas Corp. (NYSE:LAC) Finding Strong Support

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Lithium Americas Corp. (LAC) shares are trading at higher $8.98.

To add more color to this target, the company’s high over the last year is $7.98 and the low is $1.92. Over the last 52 weeks, LAC is up 12.53% while the S&P 500 is up 0.32%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. LAC has a short ratio of 5.39 and outstanding shares of 90.04M.

Company Outlook

LAC has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.94 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.46. Lithium Americas Corp. LAC also noted assets of $326.09 million at the end of the last quarter. Investors should also keep an eye on sector updates as LAC has historically followed its peers on positive news.

All told, Lithium Americas Corp. LAC has strung together solid data and demonstrated underlying fundamentals. At its current valuation, LAC represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Lithium Americas Corp. LAC is now commanding a market cap of 808.57M and a float of 55.20M. LAC is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of LAC stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in LAC, either long or short, and we have not been compensated for this article.

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