So, what weak EV demand?
What I have seen from Stephen90’s post, both the battery and the EV demand has been constantly escalating?
Or did I get something wrong somewhere?
Striking it rich with lithium:3 stocks to fuel your fortune.
Arcadium lithium
- Lithium companies’ stock prices have plummeted thanks to weak EV demand.
- Albemarle Corporation (ALB): The undisputed global leader in lithium production forges onward.
- Exxon Mobil Corporation (XOM): Its size and expertise can make it an excellent contender in the lithium market.
- Arcadium Lithium (ALTM): The merger of Alkem and Livent created a market behemoth with a global footprint.
Born from the merger of Allkem and Livent, Arcadium Lithium (NYSE:ALTM) is a chemical producer specializing in lithium products.
Livent’s lithium processing technologies and Allkem’s growth pipeline make Arcadium Lithium a global lithium powerhouse.
Their products are used in battery-grade lithium carbonate, lithium hydroxide, and butyllithium applications.
ALTM stock price had a rough time since the beginning of 2024, down 36.49% on the back of unfavorable market conditions.
However, its fiscal year 2023 financials were excellent.
Revenue grew to $882.5 million from $813.2 million last year. Meanwhile, net income rose to $330.1 million, slightly higher than last year’s $273.5 million.
Also, ALTM reported a 40% increase in lithium carbonate and hydroxide volumes.
Furthermore, management foresees significant savings of $60 to 80 million in 2024 through its streamlined operations and synergies.
With the continued adoption of EVs and its strong financials, the company is an excellent addition to any lithium stocks portfolio.
On the date of publication, Rick Orford did not have (either directly or indirectly) any positions in the securities mentioned in this article.
The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Rick Orford is a Wall Street Journal best-selling author, investor, influencer, and mentor.
His work has appeared in the most authoritative publications, including Good Morning America, Washington Post, Yahoo Finance, MSN, Business Insider, NBC, FOX, CBS, and ABC News.
Reference –
INVESTORPLACE. (05-04-2024) Striking it rich with lithium:3 stocks to fuel your fortune.
https://investorplace.com/2024/04/striking-it-rich-with-lithium-3-stocks-to-fuel-your-fortune/
So, what weak EV demand? What I have seen from Stephen90’s post,...
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