Where Will Albemarle Be in 1 Year?
Albemarle's (NYSE: ALB) stock is down nearly 50% from the highs it reached in late 2017. Although production increases have kept the world's leading lithium producer's earnings heading higher, investors have soured on the lithium story. The reason is simple: Supply of the key battery metal is outstripping demand. Yet Albemarle continues to expand its operations. A year from now, the company's production capacity will be even bigger. Here's why that is likely to be a good thing despite what Wall Street thinks.
By early 2021, management expects to have completed projects that will up its potential lithium output by nearly 50%. And it won't be done -- by early 2022, it plans to have doubled its production from 2019's level.
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Source Fool.com
