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Why Sigma Lithium Rallied This Week

TheMotleyFool

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Why Sigma Lithium Rallied This Week: https://g.foolcdn.com/editorial/images/844033/gettyimages-1467640132.jpg

Shares of Sigma Lithium (NASDAQ: SGML) rallied 55.1% this week through Thursday trading, according to data from S&P Global Market Intelligence.

Sigma Lithium is a Lithium miner with ownership of several mines in Brazil. As such, it's highly levered to Lithium prices. Lithium prices are currently in a bear market, with the price per kilogram of lithium carbonate having declined by approximately 90% since the metal's early 2023 highs, before this month's partial recovery.

This week, several industry participants and analysts predicted an additional rebound ahead.

Source Fool.com