The Novonix Ltd (ASX: NVX) share price is struggling on Tuesday as the broader market endures a major sell-off event.
The battery technology and materials share is currently the S&P/ASX 200 Index (ASX: XJO)'s sixth worst performer.
At the time of writing, the Novonix share price is $2.80, 9.97% lower than its previous close.
For context, the ASX 200 is down 4.77% right now.
Let's take a closer look at what's going on with Novonix on Tuesday.
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What's going on with the Novonix share price?
Novonix shares are continuing their multi-session slide today, slumping another 10%. That leaves the company's stock nearly 21% lower than it was this time last week.
For comparison, the company's home sector – the S&P/ASX 200 Information Technology Index (ASX: XIJ) has slipped 10.5% in that time.
The ASX 200 tech sector is also today's worst performer, having slumped 7.45% lower than its previous close.
Right now, Novonix is the sector's second heaviest weight. It's only outperforming the Block Inc (ASX: SQ2) share price, which is currently down 18.4% and trading at $89.45.
Interestingly, the market hasn't heard price-sensitive news from Novonix since late last month. Then, the company announced the retirement of a key board member.
Today's dip included, the Novonix share price is 77% lower than its 52-week high of $12.47, inked in December.
It's also 73% lower than it was at the start of 2022 and 23% higher than it was this time last year.
