Why Albemarle's Stock Flew Higher This Week
After slumping through April, shares of Albemarle (NYSE: ALB) got off to a roaring start in May. Beyond its strong first quarter 2022 earnings report, management's auspicious 2022 forecast and enthusiasm from analysts for the lithium stock had investors clicking the buy button this week.
From the end of trading last week through the close on Friday, shares of Albemarle skyrocketed by 25.8%, according to data provided by S&P Global Market Intelligence.
Albemarle reported Q1 2022 revenue of $1.13 billion and earnings per share (EPS) of $2.38. Analysts had estimated the company would report sales of $1.02 billion and EPS of $1.63.
Source Fool.com
