Atlantic Lithium Limited (OTCMKTS:ALLIF) Stock On Watchlist After Recent News

Times have been tough in the stock markets in recent days and investors would be hoping that some of the stocks which tanked last Friday are going to make a comeback this week.

Trading Data

On Friday, ALLIF stock slumped 3.42% to $0.4951 with 9.76K shares, compared to volume of 36.01K shares. The stock moved within a range of $0.4624 – 0.5500 after opening trade at $0.4785.

Atlantic Lithium Limited Announces TR1 Notification of Significant Shareholding

One of the stocks to have suffered from a selloff last Friday was Atlantic Lithium Limited (OTCMKTS:ALLIF) which saw its stock suffer from a selloff and eventually end the day with a decline of as much as 4%. The lithium exploration and development firm, which has extensive operations in Africa, announced that it had got a TR-1 notification with regards to the changes to considerable shareholdings.

It was a major new announcement from the company and the latest news about the significant changes to the shareholdings did not quite enthuse investors about the Atlantic Lithium stock. That was perhaps the reason behind the selloff that the stock suffered on Friday and it is going to be interesting to see if the stock can make a recovery today.

It was announced that the voting rights of Electrification and DecarbonizationAIE LP sit at as much as 3.07% of the entirety of the issued capital in the company. It may be a good idea to keep an eye on the stock today.

Technical Data

ALLIF stock is above the 20-Day and 50-Day Moving averages of $0.4437 and $0.4539 respectively. However, the stock is trading below the 200-Day moving average of $0.5160. The company has a total market capitalization of $292 million.