Here's Why Albemarle Gained 24.6% in May
Shares of Albemarle (NYSE: ALB) jumped over 24% last month, according to data provided by S&P Global Market Intelligence. The lithium stock rebounded from a lousy April as investors grew more confident in the pace of the post-pandemic economic recovery and the company's plans to navigate the new market uncertainty.
The specialty chemicals leader reported its first-quarter 2020 operating results in May. While management was careful to prepare investors for pain in the second half of the year, the business also outlined steps it will take to conserve cash and reduce spending.
Investor enthusiasm has remained high through the first week of June. The dividend stock is now trading above where it began 2020 and is close to its 12-month high.
Source Fool.com
