What's Going On With Lithium Americas Corp. Stock?

Lithium Americas Corp. LAC shares are trading lower on Thursday. The stock has largely been in a downtrend since early October when it began trading as a public company, independent of Lithium Americas (Argentina) Corp.
 

What To Know: On Oct. 3, the company announced it completed its separation into two independent public companies. Lithium Americas Corp. became Lithium Americas (Argentina) Corp. LAAC LAAC and Lithium Americas Corp.LAC LAC formed as an independent publicly traded company.
While shares of the new company were volatile in the first week, the stock has since trended downward over October.

Since its trading debut, two analysts also initiated price targets on the stock.

On Oct. 5, Stifel analyst Cole McGill initiated coverage on Lithium Americas with a Buy rating and announced a price target of $15 and Scotiabank analyst Ben Isaacson initiated coverage on the company with a Sector Outperform rating and announced a price target of $20.

However, on Wednesday, Deutsche Bank analyst Corinne Blanchard downgraded Lithium Americas from Buy to Hold and lowered the price target from $25 to $7, which caused shares of the stock to trade lower.

It is also worth noting that the stock has elevated levels of short interest, with 12.46% of shares currently sold short.

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LAC Price Action: Shares of LAC were down 11.5% at $7.22 at the time of publication, according to Benzinga Pro.

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