Electric vehicle stocks have corrected in the near term with factors like competition and macroeconomic headwinds impacting sentiments. However, in terms of EV adoption, the global markets are still in an early stage. In the coming years, quality EV companies will create massive value. Among the various investment options, lithium stocks are worth considering for millionaire-making potential.
As the global demand for batteries increases, lithium is likely to trend higher. The recent plunge is therefore a good opportunity to consider exposure to undervalued lithium stocks. To put things into perspective, the global demand for lithium-ion batteries was estimated at 700GWh in 2022. It’s expected that by the end of the decade, demand will surge to 4.7TWh. Clearly, this will be associated with a surge in demand for lithium.
An important point to note is that the supply-gap for lithium is expected to be acute by 2035. The plunge in lithium price is therefore a golden opportunity to accumulate quality lithium stocks for the long term.
Even in the near term, I expect a big rally for some of the best lithium stocks from deeply oversold levels
Battery Boom Beneficiaries: 3 Lithium Stocks to Buy Before They Double | InvestorPlace
1d ago · By Faisal Humayun, InvestorPlace Contributor
Electric vehicle stocks have corrected in the near term with...
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$7.17 |
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| Open | High | Low | Value | Volume |
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