Standard Lithium drops on report from short-seller Blue Orca

Standard Lithium

18/11/2021 16:41

** U.S.-listed shares of lithium extraction co Standard
Lithium  SLI.N  down 13.5% at $8.60, set for a third straight
session of losses 
    ** "We are short Standard Lithium, a zero-revenue stock up
3,000% on the claim it can achieve lithium recovery rates of 90%
from Arkansas brines. Undisclosed to investors, regulatory
filings indicate that $SLI is falling far, far short," says
short-seller Blue Orca in a tweet https://bit.ly/3kNWzNa
    ** SLI did not immediately reply to a Reuters request for
comment on the report
    ** Blue Orca report says SLI is burning cash, prompting a
"going concern" warning from its auditor and sell-side
predictions that further dilutive equity issuances are on the
way 
    ** All three brokerages covering SLI rate it "buy" or
higher; their median PT is $10.5 - Refinitiv data
    ** Stock has risen ~52% since its market debut in July,
including session losses

 (Reporting by Bansari Mayur Kamdar and Aaron Saldanha)
 ((BansariMayur.Kamdar@thomsonreuters.com;))