This is Why Albemarle Could Race to $200

0
921

Out of the gate, shares of Albemarle (ALB) exploded from $152.90 to $162.17.

From here, it could easily see $200, in our opinion, as the lithium bull market heats up with electric vehicle demand.  Helping, analysts at Cairn Energy Research Advisors say we could see a surge in EV sales this year, as countries around the world encourage people to buy them.    They added that global sales could jump 36% and top three million shortly.

However, for that to happen, far more lithium supply is required.

In addition, according to General Motors’ Chairman and CEO Mary Barra:

“Forty percent of the company’s U.S. entries will be battery electric vehicles by the end of 2025. Barra also announced an increase in GM’s financial commitment to EVs and AVs today to $27 billion through 2025 – up from the $20 billion planned before the onset of the COVID-19 pandemic.”

“Climate change is real, and we want to be part of the solution by putting everyone in an electric vehicle,” added Barra. “We are transitioning to an all-electric portfolio from a position of strength and we’re focused on growth. We can accelerate our EV plans because we are rapidly building a competitive advantage in batteries, software, vehicle integration, manufacturing and customer experience.”

Again, for that to happen, the world must have more lithium.

LEAVE A REPLY

Please enter your comment!
Please enter your name here