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Why Sigma Lithium Stock Soared Today

TheMotleyFool

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Why Sigma Lithium Stock Soared Today: https://g.foolcdn.com/editorial/images/850813/lithium-batteries-on-electric-car-chassis.jpg

Sigma Lithium (NASDAQ: SGML) stock, a small producer of lithium based in Sao Paulo, Brazil, soared in afternoon trading on the Nasdaq Monday -- and it's not hard to guess why.

This morning, a series of three separate investment banks all raised price targets on Sigma Lithium's much larger rival Albemarle (NYSE: ALB), predicting gains of as much as 24% this year. No surprise then that Sigma Lithium stock is up 17% through 2:10 p.m. ET today.

Especially not after you hear what a fourth analyst has to say about the market for lithium for electric car batteries.

Source Fool.com