Albemarle Resets Investor Expectations Lower Through 2020
At the beginning of 2016, lithium stocks were considered de facto growth investments. The argument was simple: The world produced relatively little lithium compared with what would be needed to keep pace with a tidal wave of electric vehicle (EV) launches at the beginning of the next decade.
At the end of 2019, investors are a little less optimistic about the near-term growth prospects for lithium producers. Case in point: Shares of Albemarle (NYSE: ALB) have now gained just 15% since the beginning of 2016, despite more than doubling from that starting point not too long ago.
The company's preliminary third-quarter 2019 operating results, in which Albemarle walked back full-year 2019 guidance and had some bad news about 2020, demonstrate that headwinds remain. Here's what investors need to know.
Source Fool.com
