Why Lithium Stock Albemarle Tumbled This Week
Lithium stock Albemarle (NYSE: ALB) sank this week, losing 12.7% through the week as of 12:30 p.m. ET Friday, according to data from S&P Global Market Intelligence. There was more to the drop in Albemarle shares than just the broader market weakness.
Albemarle runs three businesses but is a prime play on lithium, the metal that goes into batteries that are powering electric vehicles (EV) worldwide. It might, therefore, come as a surprise when an analyst downgrades a leading lithium stock even as global EV sales continue to soar. That's what Goldman Sachs analyst Robert Koort just did.
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Source Fool.com
