Albemarle Preferred Shares: Get Paid To Wait For Lithium Price Improvement [Seeking Alpha]
American Lithium Corp. (AMLI)
Company Research
Source: Seeking Alpha
Following the drop, ALB common stock is still modestly below my updated estimate of fair value. The preferred shares offer a higher dividend and downside protection compared to the common shares. Common shares would have to at least double in three years to achieve a better total return than the preferred. With better downside protection and low opportunity costs in an upside case, the new preferreds are now the better buy based on $50 par value. Timing Could Have Been Better I recently wrote about Albemarle stock NYSE: ALB ) on 3/4/2024, upgrading my rating to a Buy. This turned out to be horrible timing, as the company announced a convertible preferred share offering (ALB.PR.A) later that day . The initial offering size was indicated to be $1.75 billion, but it was later upsized to $2 billion . In both cases, the underwriters have an option to purchase an additional 15% of these preferreds. That $2.3 billion issue amounts to 13.7% of Albemarle's market cap as of the close
Show less
Read more
Impact Snapshot
Event Time:
AMLI
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
AMLI alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
AMLI alerts
High impacting American Lithium Corp. news events
Weekly update
A roundup of the hottest topics
AMLI
News
- American Lithium Strengthens Team and Launches Major ESG Initiative in Peru [Financial Post (Toronto, Ontario, Canada)]Financial Post
- American Lithium Strengthens Team and Launches Major ESG Initiative in Peru [Yahoo! Finance]Yahoo! Finance
- American Lithium Strengthens Team and Launches Major ESG Initiative in PeruGlobeNewswire
- American Lithium Receives NASDAQ Notice of Minimum Price Deficiency and Clarifies Previous Engagement with New Era Publishing Inc. [Yahoo! Finance]Yahoo! Finance
- American Lithium Receives NASDAQ Notice of Minimum Price Deficiency and Clarifies Previous Engagement with New Era Publishing Inc. [Financial Post (Toronto, Ontario, Canada)]Financial Post
AMLI
Sec Filings
- 3/26/24 - Form 6-K
- 3/15/24 - Form 6-K
- 2/14/24 - Form SC
- AMLI's page on the SEC website