These Top Lithium Stocks Could Explode Higher on EV Boom


[ad]

On Dec. 21, we highlighted opportunities in lithium stocks.

Those included:

· Albemarle (ALB, which ran from $136 to $182
· Lithium Americas Corp.(LAC), which ran from $9.25 to $27.44
· American Lithium Corp. (LIACF), which ran from 90 cents to $1.66
· Global X Lithium and Battery Tech ETF (LIT), which ran from $58 to $68.66

Of those, Lithium Americas is up 35%, or $7.11 on the day.

All after the U.S. Bureau of Land Management (BLM) gave final approval for the company’s Thacker Pass lithium mine in Nevada. The company is now seeking financing for the project, which could start producing lithium by October 2022.


[ad]

In addition, “Per Statista data, lithium demand is expected to more than double to 820,000 tons over the next five years. Chile’s state mining agency, Cochilco, projects lithium demand to increase to 1.79 million tons per year by 2030. According to Allied Market Research, the global Lithium-ion battery market was valued $36.7 billion in 2019 and is projected to hit $129.3 billion by 2027, at a CAGR of 18.0% from 2020 to 2027.”

Even Albemarle is expanding capacity at its lithium production facility at Silver Peak in Nevada to help meet the explosive demand.

“The latest move comes as demand for the ultralight battery metal is expected to increase as automobile companies across the world are racing towards producing more electric vehicles,” according to a recent press release. “Starting from this year, Albemarle intends to invest between $30m to $50m to double the current lithium production at the mine by 2025.”

 

Previous

Next