Lithium ION Energy (CVE:ION) Stock Price Down 25% – Here’s What Happened

Lithium ION Energy Ltd. (CVE:ION)’s stock price dropped 25% during mid-day trading on Tuesday . The company traded as low as C$0.03 and last traded at C$0.03. Approximately 255,250 shares changed hands during mid-day trading, an increase of 340% from the average daily volume of 58,035 shares. The stock had previously closed at C$0.04.

Lithium ION Energy Stock Performance

The firm’s 50 day simple moving average is C$0.04 and its 200-day simple moving average is C$0.04. The company has a market cap of C$2.06 million, a price-to-earnings ratio of -1.50 and a beta of -0.28.

Lithium ION Energy Company Profile

Lithium ION Energy Ltd. engages in the acquisition and exploration of mineral properties in Asia. It primarily explores for lithium deposits. Its flagship property is the Baavhai-Uul lithium brine project that covers an area approximately 63,000 hectares located in Mongolia. The company was formerly known as Ion Energy Ltd. and changed its name to Lithium ION Energy Ltd. in August 2023. Lithium ION Energy Ltd. was incorporated in 2017 and is headquartered in Toronto, Canada.