Back in late January, the Sayona Mining share price hit what is still its reigning 52-week high of 30 cents. But today, those same shares are going for just 10 cents each. Yep, Sayona has seen almost 67% of its value lost in the near-eight months since that new high was minted.
The Sayona share price is also down by 15% over the past month alone after losing a whopping 32% over the month of August. As my Fool colleague Bronwyn discussed earlier this month, low lithium prices, as well as the abrupt departure of its CEO, seemed mostly responsible for this company's disastrous August.
In some good news, the company isn't quite at the levels we saw on 28 August, when Sayona shares hit a new 52-week low of 8.7 cents. But still, it's been a rough time for this lithium stock, as well as for its shareholders.
But just how low have Sayona shares descended in the past? Let's discuss this, as it might give us some indication of how low the Sayona share price could go in the future if sentiment doesn't improve.
How low have Sayona shares gone in the past?
Well, put it this way. Compared to some of Sayona's historical lows, a 10-cent share price looks like a fortune.
It's quite remarkable to actually go over Sayona's past share prices. It was only back in June of 2020 that this company was asking 0.58 cents per share.
But if you think that 0.58 cent share price is as low as Sayona has ever gone, get ready for this knowledge.
Back on 7 July 2015, Sayona hit what seems to be its all-time record low. Back then, a closing share price of $0.00084 was recorded for Sayona shares. That translates into 0.084 cents. See this in action below:
For some context, if an investor had picked up some shares at that price, today's levels of 10 cents per share would represent a gain of 11,805% from those lows. That's enough to turn a $1,000 investment into $119,050.
So that's exactly how low Sayona shares have fallen in the past. Probably not the comforting news that this lithium stock's investors want to hear right now. But let's see what the future holds.