Standard Lithium plunges after Hindenburg takes short position

Standard Lithium

03/02/2022 14:29

** U.S.-listed shares of Standard Lithium  SLI.N   SLI.V 
decline ~23% to $5.60 premarket after Hindenburg Research says
it has taken a short position on co 
    ** "Standard's CEO Robert Mintak has been involved with at
least 9 publicly traded companies," Hindenburg says, adding that
on average, shares of these companies have fallen ~97% 
    ** Hindenburg adds that of the nine companies, five have
been delisted, several have faced regulatory scrutiny, none
operate profitably, and at least eight used paid stock promotion
   
    ** Last week, SLI signed a deal with Koch Minerals & Trading
LLC for the purchase of lithium chemical off-take and the
procurement of key raw materials  urn:newsml:reuters.com:*:nGNXy6J50
    ** "We think Koch missed red flags and failed in its due
diligence in its haste to deploy capital," says Hindenburg   
    ** SLI is down ~26% this year

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))