Why Albemarle Stock's Drop This Week Is an Opportunity
Albemarle (NYSE: ALB) shares were caught in the stock market rout this week, with the lithium stock losing 6.3% in the week through 2 p.m. Friday ET, according to data provided by S&P Global Market Intelligence. That's despite Albemarle receiving multiple analyst upgrades in the past few days following a solid set of first-quarter numbers.
Albemarle got off to a solid start this month with an impressive first-quarter earnings report released on May 4. The lithium stock shot up post-earnings-per-share, and I'd have expected the enthusiasm to carry forward this week had the markets not slumped.
Albemarle, after all, saw its Q1 revenue and net income rise a solid 36% and 165% year over year, respectively, and management also upped its outlook for the full year.
Source Fool.com
