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  1. Home
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Shark Bites: An Attractive Chart Ready for Thanksgiving Speculation

Given the surge in interest in electric vehicles, demand for lithium produced in the U.S. will be substantial.
By JAMES "REV SHARK" DEPORRE
Nov 24, 2020 | 01:15 PM EST
Stocks quotes in this article: NNDM, GOGO, WWR

The two days surrounding Thanksgiving tend to favor speculative trading of small-cap stocks. While there is no way to know which names that aggressive traders may favor, the best tipoff is a promising chat setup in the right sector.

There are several names I'm looking at such as Nano Dimension Ltd.  (NNDM) and Gogo Inc.  (GOGO) , but one of the better setups is Westwater Resources (WWR) . Westwater is working to develop mines to produce battery-grade graphite products.

The company's Coosa Graphite Project in Alabama is the most advanced in the U.S. It is providing its graphite for testing now and is expected to start receiving orders next year.

Given the surge in interest in electric vehicles, it is certain that demand for lithium produced in the U.S. will be substantial. Westwater is still at a pre-revenue stage but is in discussions with various automobile manufacturers for its product. It is selling its interest in existing uranium mines to more fully focus on lithium.

Technically, WWR stock surged following Tesla's TSLA Battery Day presentation at the end of August that helped to present the value of Westwater's lithium products. The size of the move shows what can happen if the momentum builds again.

The stock has been basing for over a month and has turned up recently on increased volume.

I'm looking for a move over recent highs to attract interest during the small-cap speculative trading period around Thanksgiving.

Please note that due to factors including low market capitalization and/or insufficient public float, we consider WWR to be a small-cap stock. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.

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At the time of publication, Rev Shark was long WWR.

TAGS: Investing | Markets | Small Cap | Stocks | Trading | Metals & Mining | Electric Vehicles

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