The Sayona Mining Ltd (ASX: SYA) share price is in the red for a second consecutive day as its shares positively fly off the shelf.
At the time of writing, the Sayona share price is 13.2 cents. That's 5.71% lower than it was at yesterday's close and 12% lower than it ended last week.
For context, the broader market is trading higher today. The All Ordinaries Index (ASX: XAO) is currently up 0.13% while the S&P/ASX 200 Index (ASX: XJO) has gained 0.27%.
So, what's going on with the emerging lithium producer today? Let's take a look.
Image source: Getty Images
What's going on with the Sayona Mining share price?
Shares in Sayona have caught the market's attention on Tuesday despite the company's silence.
The stock is currently among the most traded on the market. More than 106 million Sayona shares have swapped hands so far today. And it's not alone in being noticed.
Let's compare the Sayona Mining share price's performance today to its ASX 200-listed lithium peers.
The ASX 200's most traded share so far today is lithium producer Core Lithium Ltd (ASX: CXO). Nearly 23 million Core Lithium shares have traded so far today while the stock has slipped around 6% at the time of writing.
Lithium shares Allkem Ltd (ASX: AKE) and Liontown Resources Ltd (ASX: LTR) have joined Core Lithium in the red – down 5.2% and 4.29% respectively.
Together, they make up the three worst-performing S&P/ASX 200 Materials Index (ASX: XMJ) stocks right now.
Shares in Pilbara Minerals Ltd (ASX: PLS) are also worth a mention. The company is currently the ASX 200's third most traded stock.
Thus, it appears to be a bad day for ASX lithium shares in general. And it's worth noting there has been plenty of turbulence in the sector recently.
In fact, Sayona Mining was just one lithium stock to see its share price plummet last month. The company's shares fell 32% in June after it suffered a major sell-off event.
