What is dragging Piedmont (ASX:PLL) shares down today?
Highlights Piedmont’s shares were trading at AU$0.84 each, down 5.62%, at 11.33 AM AEST on ASX on Friday. This underperforms ASX 200 Materials index which was 1.01% up at 15,298.70 points. Shares of Piedmont Lithium Inc ( ASX:PLL ) were trading in the red on Friday (30 September) despite no major announcement made by the company. At 11.33 AM AEST, the lithium company''s shares were trading at AU$0.84 apiece, down 5.62%, on ASX . This underperforms ASX 200 Materials index which was trading 1.01% higher at 15,298.70 points at 11.34 AM AEST. However, the ASX 200 index was 0.54% down at 6,519.90 points at 11.36 AM AEST. Why is weighing on Piedmont shares? The shares of Piedmont were trading lower in the early trade despite no price-sensitive news released by the company. While the overall materials sector was trading on a positive note, Piedmont''s share price was under pressure. Notably, the company disclosed in an ASX statement on Wednesday (28 September) that its partner Atlantic Lithium (ASX:A11) had finished the prefeasibility study (PFS) for Piedmont''s Ghana Project, Atlantic Lithium’s flagship Ewoyaa project in Ghana''s Cape Coast region.
What is dragging Piedmont (ASX:PLL) shares down today?
Highlights Piedmont’s shares were trading at AU$0.84 each, down 5.62%, at 11.33 AM AEST on ASX on Friday. This underperforms ASX 200 Materials index which was 1.01% up at 15,298.70 points. Shares of Piedmont Lithium Inc ( ASX:PLL ) were trading in the red on Friday (30 September) despite no major announcement made by the company. At 11.33 AM AEST, the lithium company''s shares were trading at AU$0.84 apiece, down 5.62%, on ASX . This underperforms ASX 200 Materials index which was trading 1.01% higher at 15,298.70 points at 11.34 AM AEST. However, the ASX 200 index was 0.54% down at 6,519.90 points at 11.36 AM AEST. Why is weighing on Piedmont shares? The shares of Piedmont were trading lower in the early trade despite no price-sensitive news released by the company. While the overall materials sector was trading on a positive note, Piedmont''s share price was under pressure. Notably, the company disclosed in an ASX statement on Wednesday (28 September) that its partner Atlantic Lithium (ASX:A11) had finished the prefeasibility study (PFS) for Piedmont''s Ghana Project, Atlantic Lithium’s flagship Ewoyaa project in Ghana''s Cape Coast region.