Why Lithium Americas Stock Jumped 10% Today

why lithium americas stock jumped 10 today

Sumary of Why Lithium Americas Stock Jumped 10% Today:

  • What happened Lithium Americas (NYSE:LAC) stock popped on Tuesday and was trading up 9.8% as of 2:10 p.
  • Four factors drove the lithium stock higher today: lithium prices, Albemarle (NYSE:ALB), Tesla, and Canada’s Toronto Stock Exchange (TSX).
  • The combination of soaring demand and prices is the perfect recipe for growth for lithium stocks.
  • In fact, Lithium Americas made it onto TSX’s 2021 TSX30 list, announced today, showcasing the 30 best-performing stocks on the exchange in the past three years.
  • Its inclusion in the top 30 list right when lithium prices are soaring appears to have reignited investor interest in Lithium Americas stock today.
  • The exuberance is, in fact, a carryover from last week when Lithium Americas popped after rival Albemarle outlined an incredibly bullish outlook about the lithium markets during its investor day.
  • Among other things, Albemarle projects global EV production to grow tenfold by 2030 and demand for lithium to grow at compound annual rate of 30% through 2025. Its projections and revenue outlook even encouraged several analysts to bump up their price targets on the lithium stock on Monday.
  • UBS and BMO Capital Markets, for example, upped their targets to $290 a share each, Oppenheimer posted a price target of $296 per share, and Deutsche Bank sees Albemarle stock hitting $270 per share.

Want to know more click here go to source.

From -

Close
Generic selectors
Exact matches only
Search in title
Search in content

Site Language


By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close