Want to Invest in Electric Vehicles? Take a Hard Look at Albemarle
Lithium is a hot commodity right now. It's been an important ingredient in the tech sector for decades given that lithium-ion batteries power so many devices like smartphones, tablets, and laptops. But demand is soaring as adoption of electric vehicles (EVs) accelerates. By some measures, the price of lithium has more than doubled since the start of 2022.
Enter Albemarle (NYSE: ALB), a leading supplier of lithium and other basic materials used in battery manufacturing. Thanks to strong demand in Q1 2022 and an upgraded outlook on future production, the stock is beating the overall market this year -- Albemarle stock is down 8% as of this writing, compared to the S&P 500's negative 17% return year-to-date. This is an "expensive" stock with lots of future growth already baked in, so tread lightly. But if you're looking for a way to bet on the EV market, Albemarle is worth a look.
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Source Fool.com
