Lithium Americas (LAC)

by | Nov 27, 2020 | Daily Trade Alert

Under a Biden Administration, green stocks are likely to see a good deal of interest.

For one, under a Biden Administration, the U.S. is likely to rejoin the Paris Accord.

And two, as noted on Biden’s site, he “believes the Green New Deal is a crucial framework for meeting the climate challenges we face. It powerfully captures two basic truths, which are at the core of his plan: (1) the United States urgently needs to embrace greater ambition on an epic scale to meet the scope of this challenge, and (2) our environment and our economy are completely and totally connected.”

Biden is also a fan of electric vehicles, which could fuel higher highs for lithium prices.

In fact, the lithium market could benefit from a Joe Biden victory, noted Albemarle Corp. CEO Kent Masters, as quoted by Bloomberg. “There’s the incentives, and the emphasis that’s put on electrification and EVs around that. The market side of it would be more favorable with Biden.”

While we already have an open position in lithium company, Albemarle (ALB), another one to keep an eye on is Lithium Americas (LAC). At the moment, the stock is consolidating just above $11 a share. As the lithium boom gains traction, we’d like to see LAC closer to $17, near-term.

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