Consolidated Lithium Metals shares dropped 20% to C$0.04 on Monday with no explanation given.

Consolidated Lithium Metals (CVE:CLM) shares plunged 20% on Monday, closing at C$0.04 amid a surge in trading volume to 526,313 shares, an 80% jump from its average. The company, which explores for lithium, molybdenum, tantalum, and diamond deposits in Canada, operates projects including Vallée, Preissac La Corne, and Baillargé. Formerly Jourdan Resources Inc., it rebranded in June 2023. With a market cap of C$18.23 million and a negative P/E ratio of -20.00, the stock traded below its 50-day and 200-day moving averages. No reason for the drop was provided.