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Stock impact report

Why Sigma Lithium Stock Soared While the Market Dived Today [Yahoo! Finance]

Sigma Lithium Corporation (SGML) 
Company Research Source: Yahoo! Finance
10 stocks we like better than Sigma Lithium › Reflecting the highly reactive element within its name, Sigma Lithium (NASDAQ: SGML) has been a volatile stock over the past few trading days. On Tuesday, its shares zoomed nearly 10% higher, largely due to positive news about a peer, after a significant drop the previous trading session. That peer is Albermarle , which, although larger and more diversified, still has a significant lithium business. Over the past few days, analysts tracking the company have become more bullish, with one -- HSBC 's Ishan Jain -- going so far as to upgrade his recommendation to buy from his previous hold. The surge in optimism is understandable, given that lithium is the primary material used in electric vehicle (EV) batteries. Although EV sales growth has declined recently, upgrade cycles and the current lack of a mass-market alternative to lithium batteries have supported demand for the element. Additionally, lithium is rapidly becoming the mate Show less Read more
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