The Vulcan Energy Resources Ltd (ASX: VUL) share price has been on a continuing decline over the last few weeks.
This follows the company's dual listing on the Frankfurt Stock Exchange (FSE), which occurred on 15 February, European time.
At market close, the clean lithium developer's shares finished the day trading at $8.59, down 0.46% for the day.
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Why did Vulcan Energy proceed to be dual listed on the FSE?
In case you weren't aware, Vulcan is developing its Zero Carbon Lithium Project in Germany, which is recognised as the fastest growing lithium battery market worldwide.
The company aims to play a crucial role in decarbonising the region's power and heating requirements through the delivery of baseload geothermal energy.
With its projects and 90% of the team based in Germany, the dual listing was considered an important step. This not only increases the international profile of Vulcan Energy to European investors but also provides an investment opportunity.
The company aims to become the world's first lithium and energy renewables producer with net zero greenhouse gas emissions. The Zero Carbon Lithium Project's plan is to produce a lithium-hydroxide chemical product for the European electric vehicle battery market.
How did Vulcan Energy shares travel since the dual listing?
The company has been relatively quiet on the news front since announcing its shares were to be dual listed.
During the time when the FSE Listing was becoming effective, Vulcan Energy shares were trading at $9.30 a pop. However, the shares had some shocker days, falling 6.24% on 22 February and 9.51% on February 24.
Although it's worth noting that Vulcan Energy shares did climb 9.31% between the two days of heavy losses (23 February).
Overall, the fall represents a loss of around 8% in value for the company's shares.
A major catalyst for the wild volatility appears to be attributed to the geopolitical tensions between Ukraine and Russia. The All Ordinaries (ASX: XAO) slumped close to 4% since February 16 when Vulcan Energy shares were dual listed.
Vulcan Energy share price snapshot
Over the last 12 months, Vulcan Energy shares have powered ahead, posting a gain of 33%. When looking at year to date, its shares have fallen by 17% despite investor sentiment heating up in the industry.
Based on today's price, Vulcan commands a market capitalisation of $1.13 billion with approximately 131.65 million shares on issue.
