The Core Lithium Ltd (ASX: CXO) share price is down 4.2% in afternoon trade today.
At the time of writing, shares in the All Ordinaries Index (ASX: XAO) lithium stock are changing hands for 11.5 cents apiece.
Still, you won't find investors who bought the stock last month complaining.
On 9 September, shares closed the day at 8.4 cents. Despite today's sell-down, the Core Lithium share price has risen 36.9% in a month.
But with those gains in the bag, and keeping in mind that shares in the ASX lithium miner are down 66% in 12 months, is now a good time to sell?
Sell the bounce in the Core Lithium share price?
It's not always easy to sell or refrain from buying a stock that's been in a solid month-long uptrend.
But according to Sequoia Wealth Management's Peter Day, investors may wish to consider doing just that with Core Lithium.
"The company owns the Finniss lithium operation in the Northern Territory," said Day, who has a sell rating on the company (courtesy of The Bull).
As for Finniss, Day said:
The operation remains on hold until studies on a re-start are completed, and lithium market conditions stabilise, according to an update in late September. Lithium prices have plunged since 2023.
As for the Core Lithium share price, he noted this has fallen from 40 cents on 12 October 2023 to trade at 12.5 cents on 3 October 2024.
"The outlook for other stocks is more appealing at this stage of the cycle," Day said.
Why did the ASX lithium stock surge over the past month?
The All Ords lithium stock enjoyed a huge run higher in September.
On 30 September, shares closed the day at 13 cents apiece, which put the Core Lithium share price up an eye-popping 44.4% over the month.
Which might not have been a bad time to sell some of your holdings, as the share price has yet to close at a higher level.
Investors were bidding up the share price amid a series of positive announcements.
Those included an update on the miner's uranium exploration program at its Napperby uranium project in the Northern Territory.
The past month also saw Core Lithium enter into an agreement with Lithium Australia Ltd (ASX: LIT) to acquire a 9.8% stake in Charger Metals NL (ASX: CHR) from shares held by Lithium Australia.
And Core agreed to buy Lithium Australia's 30% interest in the Bynoe Project, near its Finniss Project.
The Core Lithium share price also enjoyed broader tailwinds that lifted most ASX lithium stocks on 11 September amid news reports that Chinese electric vehicle battery manufacturer, CATL, had suspended production at two of its lepidolite lithium mines.
