Lithium stocks are on the run.

  • Lithium Americas (LAC) is up $2 over the last two days
  • Livent (LTHM) is up more than $6 over the last two days
  • Piedmont Lithium (PLL) is up about $2
  • Standard Lithium (SLI) is up about 50 cents

And, Albemarle (ALB) is up another $20 a share after posting better than expected earnings, and raising full year guidance.  In fact, ALB posted EPS of $2.38 on $1.1 billion in sales.

Analysts were only looking for EPS of $1.64 on $1 billion in sales. A year ago, ALB posted EPS of $1.10 on $829 million in sales.  Full-year sales are expected to be about $5.4 billion, with EBITDA expected to be about $1.85 billion.  That’s above the company’s February guidance for $4.4 billion in full year sales, and EBITDA of $1.2 billion.

In addition, the Biden Administration is investing $3 billion to boost lithium.

“To help make electric vehicles work, we need also to increase the production of lithium ion batteries and we need responsible and sustainable domestic sourcing of the critical materials used to make lithium ion batteries such as lithium, cobalt, nickel, and graphite,” infrastructure implementation coordinator and senior Biden adviser Mitch Landrieu told reporters, as quoted by CNN.

In short, keep an eye on lithium stocks.