Albemarle (ALB)

by | Aug 24, 2022 | Daily Trade Alerts

Lithium stocks are still red-hot.

Look at Albemarle (ALB), for example. Over the last few weeks, the stock exploded from $190 to about $290, pulled back slightly, and ran higher again. All thanks to a lithium supply-demand story that’s not expected to cool off. Even better for lithium, major electric vehicle companies will face a battle for lithium supply through 2030.

According to the Financial Times, “This year carmakers ranging from Stellantis to BMW have invested in lithium start-ups, underlining the pressure the industry faces as more of the world shifts to electric vehicles. Riding the hot market, Albemarle has lifted its earnings forecast three times this year, and expects to be able to increase its production and turn cash flow positive faster than expected.”

Again, with the red-hot lithium market showing no signs of cooling, stocks like ALB look solid.


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