This stock is hurting big time. I don't think people on the board realize what an impact the latest news regarding Brazil and the Chilean government are having on SQM. It was really one of the only things that could impact this so harshly. No support to be found here. If you bought above 50, I doubt you'll see that again in a very long time.
Lithium use. GM, Ford, Toyota, VW, Hyundai, Audi, Honda, Subaru, Mitsubishi, Peugeot, Bosch, Samsung, Sanyo, NEC Electronics, GE, Air Products, Fuji Heavy Ind., Boeing, Continental Auto,multiple power utility companies, and several governments to name a few disagree with you.
You need to notify GM, Ford, Toyota and Mercedes because they plan on 20 to 30% of all US car sales to be lithium-ion based in the next 10 years with cars in the show rooms in 2010 or just 1.5 years from now. Renault-Nissan is going 100% electric.
You also need to tell GE because they are going to put lithium-ion batteries in the power grids for peak power storage. There are some already in place and several electric utility companies have signed up.
Markets run on psychology and perspective. Investors don't want to hear that the "sky's the limit" stock will run flat into competition. Whether it's today or 5 years from now, it spooks investors. Remember this is one of those "priced to perfection" stocks that any hint of negative news, as you're seeing now, really hit it hard.