Livent Corp (LTHM)

[TradingCharts]

Livent Corp said on Friday that two senior executives were leaving to pursue other opportunities, coming just days after the lithium producer cut its 2019 forecast and warned that demand was slipping for a version of the white metal it produces.
Philadelphia-based Livent said Chief Growth Officer Thomas Schneberger would leave at the end of the month and that Rasmus Gerdeman, head of strategy and investor relations, has already left.
Lithium is a key material used to make electric vehicle batteries. Livent has focused its business on one specific type of the white metal, hydroxide, which has seen weak demand in recent months due in part to uncertainty around China’s electric vehicle subsidies.
Livent on Tuesday cut its full-year profit and revenue forecasts, citing weakening prices for hydroxide and lower demand from some customers. The company’s stock has dropped 27 percent since the forecast cut, closing Friday at $8.06 per share.
Livent rival Albemarle Corp has split its business focus between hydroxide and carbonate, another type of lithium, helping to inoculate it from market gyrations. Albemarle posted a better-than-expected quarterly profit on Wednesday and reiterated its full-year forecast
https://www.reuters.com/article/us-livent-executive-moves/livent-executives-to-exit-after-lithium-forecast-slashed-idUSKCN1SG2HT