Weakness in lithium stocks is an opportunity.
While many of them pulled back in recent weeks, it’s temporary. After all, with lithium demand expected to explode about eight times over by 2040, finding new lithium deposits has become top priority. Plus, supply still can’t keep up with demand, as the world goes green.
Look at Albemarle (ALB), for example.
After getting crushed in recent weeks, the stock is starting to pivot higher. Helping, it just partnered with Caterpillar (CAT) to “establish Kings Mountain, North Carolina, as the first-ever zero-emissions lithium mine site in North America. These efforts include utilization of next-generation, battery-powered mining equipment,” as noted by Mining.com.
In addition, the company was just awarded a $90 million critical materials award from the U.S. Department of Defense to boost lithium production in the U.S.
ALB last traded at $171.74 – up just over $9 on the day. We’d like to see the ALB stock again challenge $200 again soon.