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The EV market holds one of the most highly anticipated futures in stocks. Recent marketwide events, such as a dropoff in the price of lithium, have made for a volatile and slow few years.
Some lithium stocks could definitely surge during the next bull run. It's said that China essentially controls the spot price of lithium.
It's hard to use technology these days without some type of rechargeable battery. Whether it is your smartphone or your electric vehicle (EV), batteries are the foundation for the continued advancement of global technology.
Albemarle is a favorite within the lithium mining industry for risk-averse investors due to its low political and geopolitical risk profile, as well as its well-established operations. Weak financial results throughout the lithium mining industry signal that current lithium prices are not sustainable, meaning a turnaround is in the cards, although the timing is uncertain. Given the uncertainty of the timing of a lithium market turnaround, Albemarle is a good choice, because it is well-established and it carries less external risk, making it ideal for riding out market turbulence.
Crisis will turn into an opportunity for lithium stocks. That's because supply issues are only temporary.
Albemarle (ALB) closed the most recent trading day at $124.86, moving +0.33% from the previous trading session.
You can think of the S&P 500 and the NASDAQ 100 indexes as the sun that gets the rest of the stock market booming or busting. As these have been making all-time highs lately, you'll notice that not all stocks joined the party.
Zacks.com users have recently been watching Albemarle (ALB) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Lithium is a key component of electric vehicle (EV) batteries, which have surged in demand in the past few years. This demand caused some of the best battery stocks to reach record highs in late 2022.
Investors certainly can't be blamed for avoiding lithium stocks right now. Prices for the battery metal continue to be low after a year in 2023 that saw the sector implode.