Albemarle (ALB) ended the recent trading session at $122.59, demonstrating a +1.52% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.29%. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq appreciated by 0.43%.The the stock of specialty chemicals company has fallen by 19.55% in the past month, lagging the Basic Materials sector's loss of 7.93% and the S&P 500's gain of 2.08%.The investment community will be closely mon ...

As I’ve noted in previous columns, each political party likes certain sectors of the economy more than others. For example, Democrats tend to be much more supportive of renewable energy companies than Big Oil, and Republicans are the other way around. Also importantly, “when Republicans and Democrats are in office, they usually reward their supporters and often take steps to harm the opposing party’s backers.” Further, by shaping Congress’ legislative agenda and appointing officials who make crucial rules, ...

The global demand for electric vehicle (EV) batteries is likely to growth multi-fold by the end of the decade. This would also imply robust growth for some of the best EV battery companies.Notably, the EV sector has faced some near-term challenges in the form of macroeconomic headwinds, inflation, and supply chain concerns. This has translated into attractive valuations for some of the best EV stocks. Undervalued battery stocks are worth holding for the next five years.Coming to the growth potential, the Li ...

Witthaya Prasongsin/Moment via Getty Images Given the headlines in the US right now about EVs being stranded in cold weather (which I warned about in previous analyses,) the current fear plaguing lithium stocks is that fewer EVs will be sold. Many buyers may be put off when they see EVs being towed by dependable diesel and gasoline tow trucks through the snowy streets of Chicago and elsewhere. This fear presumes that the same issues attack EV batteries in any weather. Not so. Yes, at this stage of innov ...

2023 has come to an end. 2024 is here and the electric vehicle industry couldn’t be happier about that transition. EV stocks suffered through a very difficult 2023. The high interest rate environment was but one of many factors that served to stunt sector growth overall. Investors could be forgiven for assuming that the electric vehicle industry is in decline given all of the negative news. However, the truth is that a record 1.2 million EVs were sold in the United States in 2023.Projections anticipate comp ...

Not long ago, lithium prices were skyrocketing on fears of a supply shortfall, as growth in the electric-vehicle market lifted demand for the metal used in lithium-ion rechargeable batteries. The tables have turned.The average annual price for battery-grade lithium carbonate fell to $41,166 per metric ton in 2023, down nearly 40% from $68,075 in 2022, according to data from Benchmark Mineral Intelligence. Prices had dropped on a quarter-to-quarter basis, down about 38% in the fourth quarter. Electric vehic ...

With the world fighting to go green, battery stocks are becoming far more attractive. After all, batteries play an essential role in the world’s move to renewable energy. Also, the U.S. Department of Energy announced it would provide $3.5 billion to companies that produce batteries and the essential minerals used to make them. “Officials see batteries as an important climate solution. The devices can power cars and store clean electricity made from solar panels or wind turbines. The idea is to use fewer fos ...

Key TakeawaysLithium miner Albemarle plans to slash costs and lay off workers as the slump in EV demand and tumbling lithium prices hurt sales and profits.The company said it will lower capital expenditures and optimize its cost structure.Albemarle said the moves were being made because of changes in market conditions.Shares of Albemarle (ALB) lost ground Wednesday as the biggest lithium producer announced it was cutting costs and jobs, as well as taking other measures to save money because of “changing end ...

About this content About Sean Mason Sean Mason is a Senior Journalist at Proactive, having researched and written about Canadian and US equities for 20 years. Sean graduated from the University of Toronto with a BA in history and economics and has also passed the Canadian Securities Course. He previously worked at Investors Digest of Canada, Stockhouse, and SmallCapPower.com. Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and action ...

TORONTO, Jan. 17, 2024 /PRNewswire/ - The supply of lithium, essential for electric vehicles, is expected to face twenty years of rapid growth, according to a new report. The Oregon Group forecasts lithium's dominant demand segment — electric batteries and vehicles (EVs) — is also it's fastest growing, a dynamic rarely encountered even in bull markets. The report examines how the lithium market has seen a significant price correction in 2023, stalling new lithium projects and limiting supply expansion need ...