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Lithium Americas Corp (NewCo) (NYSE: LAC) Stock: Bulls Need To See This

Lithium Americas Corp (NewCo) (NYSE:LAC) price closed higher on Friday, February 09, jumping 4.23% below its previous close.

A look at the daily price movement shows that the last close reads $10.08. Taking into account the 52-week price action we note that the stock hit a 52-week high of $12.38 and 52-week low of $3.81. The stock subtracted -27.94% on its value in the past month.

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Lithium Americas Corp (NewCo), which has a market valuation of $682.34 million, is expected to release its quarterly earnings report Mar 29, 2024 – Apr 02, 2024. Analysts tracking LAC have forecast the quarterly EPS to shrink by -0.09 per share this quarter, while the same analysts predict the annual EPS to hit -$0.13 for the year 2024 and up to -$0.27 for 2024.

The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 34.55, with weekly volatility standing at 5.86%. The indicator jumps to 6.20% when calculated based on the past 30 days. Lithium Americas Corp (NewCo) (NYSE:LAC)’s beta value is holding at 0, while the average true range (ATR) indicator is currently reading 0.28.

An analysis of the Lithium Americas Corp (NewCo) (NYSE:LAC) stock in terms of its daily trading volume indicates that the 3-month average is 0.73. However, this figure increases on the past 10-day timeline to an average of 2.43 million.

Current records show that the company has 161.31M in outstanding shares. The percentage share held by institutions stands at 10.59%. The stats also highlight that short interest as of Jan 31, 2024, stood at 13.72 million shares, which puts the short ratio at the time at 5.77. From this we can glean that short interest is 8.50% of company’s current outstanding shares. Notably, we see that shares short in January rose slightly given the previous month’s figure stood at 11.77 million. But the -33.91% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.