The Sayona Mining Ltd (ASX: SYA) share price was the biggest faller of the S&P/ASX 200 Index (ASX: XJO) on Thursday.
Speculation of continuing declines in lithium prices over the next three years may be contributing to weak market sentiment for lithium stocks.
Six months of hell for the Sayona Mining share price
The Sayona Mining share price has dived 54% over the past six months.
The last piece of price-sensitive news from Sayona Mining came on 6 September when it announced it had received its first cash proceeds from its North American Lithium (NAL) operation.
The appeal of small-cap shares is the potential for higher returns, but with that comes higher risk.
Sayona Mining has a market capitalisation of $1.08 billion.
The lowest that Sayona shares have ever traded at is 8.7 cents.
At the end of last month, top broker Macquarie put an outperform rating on Sayona Mining with a 12-month share price target of 20 cents.