Hedge Fund Bets on Lithium Miner After Big Electric Vehicle Win

(Bloomberg) — Formidable Asset Management LLC, a hedge fund that bet on electric-vehicle maker Workhorse Group Inc., and battery maker Nano One Materials Corp. is now putting its money on a lithium mining company.The Cincinnati-based fund sees Lithium Americas Corp. as a “differentiated operator” within the sector that has imminent production, a strategic location for some of its operations and undervalued assets, the fund wrote in a research report on Friday.“Based on the valuation of its competitors (relative to their potential production/earnings) as well as recent prices paid for assets by its competitors, LAC’s current market cap is well below …read more

Source:: Yahoo Finance