Lithium Stocks News: Why are LTHM, LAC and ALB stocks up today?

Lithium stocks are on the move today as several catalysts push company stocks higher in the market on Wednesday.

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The first big news to note is that the Biden administration announced plans earlier this week to increase production of batteries for electric vehicles (EVs) in the United States. This is a $3 billion effort that will require lithium as it is an essential element in creating EVs. Battery.

While this is the basic general news, there are other more specific reasons for the rise in lithium stocks today. Let’s get into that below!

Rise in lithium stocks

  • Livent (NYSE:LTHM) the stock opens with a 21.1% gain on Wednesday afternoon. This comes after the company posted a beating in profits for the first quarter of 2022. It attributed this to rising lithium prices.
  • Lithium Americas (NYSE:LAKE) stocks are up next with a rise of around 1% this afternoon. There’s no company-specific news behind this, but the growing demand for lithium is a contributing factor.
  • Albemarle (NYSE:ALB) stock closes our lithium listing today with a roughly 4% rise in price. This comes after the announcement of a special dividend and prepares to release its latest earnings report tomorrow.

Investors will want to keep an eye on the lithium market in the coming months to see if these stocks maintain higher trading levels. It is possible that they will do so with a continued shift to electric vehicles.

It’s not just lithium stock news worth talking about on Wednesday!

Luckily, we have all the latest stock coverage traders need to know today! This includes what has shares of Global DiDi (NYSE:HAVE I GOT), Akamai (NASDAQ:AKAM), and Satellogic (NASDAQ:SATL) stock moving Wednesday. You can read all about it on the following links!

More Wednesday stock market news

As of the date of publication, William White had no position (directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.


Article printed by InvestorPlace Media, https://investorplace.com/2022/05/lithium-stocks-news-why-are-lthm-lac-alb-stocks-up-today/.

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