The Core Lithium Ltd (ASX: CXO) share price is sliding today.
Again.
At the time of writing on Wednesday, shares in the S&P/ASX 200 Index (ASX: XJO) lithium stock are trading for 35.5 cents apiece. That's down 4.05% from yesterday's closing price of 37 cents.
Unfortunately for long-term shareholders, that sees the Core Lithium share price notching up another two-year low.
While that's undoubtedly unwelcome news for stockholders, a smaller cohort of traders will be banking some profits. Core Lithium kicked off the week with a short interest of 8%.
Here's why the lithium miner has come under pressure.
Image source: Getty Images
What's happening with the Core Lithium share price?
It's been a rough 10 months for the lithium miner and producer.
It was only back on 14 November that the Core Lithium closed at a high of $1.87 per share. That means the stock has plunged 81% since then.
The company has faced a number of headwinds over the past months.
Its Northern Territory Finniss Lithium Project achieved the milestone of first lithium production (in the form of spodumene) and shipment. But investors hit the sell button following lower-than-expected production forecasts out of Finniss.
Adding insult to injury, management also significantly increased its prior production costs guidance.
And shareholders were less than pleased with the miner's $120 million capital raising in August.
New shares funding that capital raise were issued at 40 cents apiece. That was a discount of 26% relative to the closing price on the day prior to the cap-raise announcement.
The Core Lithium share price plunged 25% on 17 August, the day the stock began trading post its cap-raise announcement.
