The Liontown Resources Limited (ASX: LTR) share price is sliding lower today despite the companyâs silence.
The S&P/ASX 200 Index (ASX: XJO) lithium share is down 2% right now, trading at $1.705.
For context, the index is currently up 0.04% while the S&P/ASX 200 Materials Index (ASX: XMJ) has slipped 0.06%.
So, what might be going wrong for the Liontown share price today? Letâs take a look.
What’s going on with the Liontown share price?
The Liontown share price is tumbling on Wednesday alongside those of its ASX 200 lithium peers.
Indeed, the ASX 200 materials sector is being weighed down by stock in Lake Resources N.L. (ASX: LKE) and Core Lithium Ltd (ASX: CXO). Theyâve fallen 4.5% and 3.7% right now, making them the two worst performing ASX 200 materials shares.
The Liontown share price is the sectorâs fifth worst performer while those of Allkem Ltd (ASX: AKE) and Pilbara Minerals Ltd (ASX: PLS) are also struggling.
It marks the second consecutive day in which Liontown is trading in the red and leaves the stock roughly flat with where it was this time last week.
Such recent performance seemingly marks an end to its meteoric rise. The lithium share is currently trading 95% higher than its lowest point of 2022 so far â 87.5 cents â reached in late June.
Interestingly, itâs been nearly three weeks since the market heard price-sensitive news from the company.
It dropped its latest quarterly report on 28 July, detailing what the companyâs CEO and managing director Tony Ottaviano dubbed âa significant period of positive activity and progressâ. That saw the Liontown share price lift 6%.
Though, investors who jumped on board with the company at the start of the year haven’t quite broken even.
The stock is still trading 2.5% lower than it was at the beginning of 2022. Though, it’s gained 82% since this time last year.
The post Why is the Liontown share price limping lower on Wednesday? appeared first on The Motley Fool Australia.
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More reading
- Here are the top 10 ASX 200 shares today
- Why is the Liontown share price leaping 5% on Monday?
- Why has the Liontown share price roared 30% higher in a week?
- Here are 2 ASX lithium stocks analysts rate as buys
- Here are the top 10 ASX 200 shares today
Motley Fool contributor Brooke Cooper 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.
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