Lithium stocks have been devastated.
But with a good deal of “excessive pessimism” now priced in, it’s time to buy.
For one, we’re seeing an uptick in global electric vehicle sales. Two, with mines shutting down or being delayed, supply will begin to dry up. Arcadium Lithium, for example, just said it would suspend or delay two of its projects with the current lithium glut and price slump. However, as we saw in 2022, lithium prices will explode again as supply is cut.
Plus, “The world’s largest lithium producers told a major industry conference they remain bullish on long-term demand for the electric vehicle battery metal despite the recent price plunge that has forced layoffs and curtailed expansions,” as noted by Reuters.
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Company: Albemarle (SYM: ALB) Excessively oversold, the lithium giant is also over-extended on RSI, MACD and Williams’ %R. Plus, it’s now sitting at an unsustainable low it hasn’t seen since Oct. 2020. While analysts, including Piper Sandler, Scotiabank, RBC Capital, and Bank of America are still downgrading ALB on lithium price concerns, it’s all overdone. Also, while we wait on the eventual recovery here, we can at least collect its yield of about 2%. |
Oxford Club
The Original Magnificent Seven Produced 16,894% Average Returns Over 20 Years.
But the Man Who Called Nvidia at $1.10 Says “AI’s Next Magnificent Seven Could Do It Even Faster.”
See His Breakdown of the Seven Stocks You Should Own Here.
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Company: Sociedad Quimica Y Minera (SYM: SQM) Oversold and starting to pivot higher, Sociedad Quimica Y Minera (SYM: SQM) is also a buy on weakness. It’s also starting to pivot from over-extensions on RSI, MACD and Williams’ %R. From its last traded price of $36.09, I’d like to see it retest $43, near term. Better, while we wait for SQM to push higher, we can collect its current yield of 5.81%. |
InvestorPlace
Farewell, iPhone?
The iPhone has been Apple’s #1 product for over a decade…
But it may not even exist as we know it by September 10.
Here’s why.
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ETF: Global X Lithium ETF (SYM: LIT) Just as oversold is the Global X Lithium ETF (SYM: LIT). With an expense ratio of 0.75%, the ETF invests in the complete lithium cycle. That includes mining and refining the metal through battery production. We also have to consider that should we see a stronger green energy boom and a global recovery in electric vehicle sales, the LIT ETF will recover with lithium prices. |
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