LIT: An Opportunity After The Crash [Seeking Alpha]
Albemarle Corporation (ALB)
Last albemarle corporation earnings: 2/19 04:15 pm
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Source: Seeking Alpha
Despite the slowdown, EV sales are still projected to increase, leading to potential growth in the lithium market and a rebound for LIT. The low $40s are an attractive entry point at the 2018 high and 50% retrace point. The slowdown in EV sales completely toppled lithium prices and ETFs such as the Global X Lithium & Battery Tech ETF ( NYSEARCA: LIT ). Lithium futures currently trade at $14.35 after making a high of $85 in late 2022. Whether they merited a price of $85 is questionable, but there are good reasons why price should be higher than $14.35. A rebound looks likely in the medium-term and this should pull up the likes of LIT. A Round Trip While lithium batteries have various uses, the major driver of lithium prices is clearly the EV market. When EV sales grew 105% in 2021, lithium demand also grew significantly and prices surged from 2021 to late 2022. The bubble popped as EV sales growth slowed from 105% in 2021 to 57% the next year and 27% in 2024. Analysts tend t
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ALB
News
- Activism Campaigns Ramp Up in Australia With Busiest Start Ever [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Activism Campaigns Ramp Up in Australia With Busiest Start Ever [Yahoo! Finance Canada]Yahoo! Finance Canada
- Activism Campaigns Ramp Up in Australia With Busiest Start Ever [BNN Bloomberg (Canada)]BNN Bloomberg
- Activism Campaigns Ramp Up in Australia With Busiest Start Ever [Yahoo! Finance]Yahoo! Finance
- Albemarle Co. (NYSE: ALB) had its "outperform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $157.00 price target on the stock.MarketBeat
ALB
Earnings
- 5/1/24 - Miss
ALB
Sec Filings
- 5/15/24 - Form 4
- 5/15/24 - Form 144
- 5/14/24 - Form 3
- ALB's page on the SEC website