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Best Lithium Stocks To Watch Today? 2 In Focus

Lithium stocks to watch right now.

best lithium stocks

Imagine the batteries in your smartphone or your friend’s electric scooter. They’re likely powered by lithium, a lightweight metal that’s crucial for making rechargeable lithium-ion batteries. These batteries are everywhere these days – in phones, laptops, electric cars, and even some renewable energy storage systems. So, the companies that mine lithium and process it into a form that can be used in batteries make up what we call the “lithium sector”.

Now, when we say “lithium stocks“, we’re talking about shares of these lithium mining and processing companies that you can buy on the stock market. These stocks are kind of like tiny ownership pieces of these companies. When you buy these stocks, you’re basically betting that the demand for lithium will keep growing. And thus the company’s profits will grow, and so will the price of your stocks.

But, just like anything else in life, there are risks. Lithium prices can fluctuate based on supply and demand. If a new technology comes out that doesn’t need lithium, or if there’s too much lithium produced causing prices to drop, the value of your lithium stocks might fall. That’s why, even though the lithium sector has lots of potential due to the growing demand for batteries, investing in lithium stocks requires careful thought and research.

Lithium Stocks To Buy [Or Avoid] Now

Albemarle (ALB Stock)

Leading off, Albemarle (ALB) is a global producer of lithium and lithium derivatives, known for its significant role in the lithium market. Its operations span across several countries, including the U.S., Australia, and Chile.

On Monday morning, Albemarle announced they struck a key deal with Ford Motor Company (NYSE: F). In detail, this five-year contract, set to commence in 2026 and run until 2030, outlines Albemarle’s commitment to supply over 100,000 metric tons of battery-grade lithium hydroxide. This amount of lithium hydroxide is expected to be used in approximately 3 million future electric vehicles (EVs) manufactured by Ford.

Following this news release, shares of ALB stock closed Monday’s trading session up 1.15%, trading at $206.50 a share.

Source: TD Ameritrade TOS

[Read More] 3 Cyclical Stocks To Watch In May 2023

Sociedad Quimica y Minera S.A. (SQM Stock)

Next, Sociedad Quimica y Minera S.A. (SQM) often referred to as SQM, this company is one of the world’s largest lithium producers, based in Chile. It operates in the Salar de Atacama, home to one of the planet’s richest lithium deposits.

Meanwhile, just today, Monday, Sociedad Quimica y Minera de Chile S.A., announced a strategic partnership with Ford Motor Company. This agreement aims to guarantee a consistent supply of high-quality lithium products, essential for the manufacture of electric vehicle batteries. In particular, SQM will be providing battery-grade lithium carbonate and lithium hydroxide to Ford, further enhancing the automaker’s capability to produce high-performance electric vehicles.

With this news release, shares of SQM stock closed Monday’s trading session slightly green on the day, trading at $71.15 a share.

Source: TD Ameritrade TOS

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By Jonathan Phillip

Jonathan Phillip is an up and coming financial contributor in the stock market today. He's found a strong niche in writing about true growth industries. His main focus for the last 5 years has been on the cannabis industry and marijuana stocks. He is one of the top contributors to cannabis media outlets like MarijuanaStocks.com. He also is head of social media management for StockMarket.com.

Since an early age, Jonathan has been an active member of the cannabis culture. Coming from Miami, Florida, he's been able to identify emerging trends in the space including the emergence of cannabis derivatives, vapes, e-liquids, wax, and more. His ability to identify emerging niches has afforded him the ability to source valuable information from top industry names.

Jonathan has also managed to build a strong social media presence for companies. He has worked with hundreds of public companies to develop a digital presence. As an active blogger and social media influencer, his focus is on lifestyle segments of the market. You can find Jonathan reporting on anything from industry conferences and investor events to corporate disclosures and cannabis market movers.

Since the early days of marijuana companies going public, Jonathan has made it a point to find information before the crowd. The main target of his writing is on undiscovered or under-researched companies that could hold true, lasting market potential. Through his research, Jonathan has managed to be one of the early writers to identify the opportunity of cannabis over other things like alcohol and he was one of the first reporters to cover the multi-billion dollar deals that materialized in 2017 and 2018. He has also covered the emergence of multi-state operators in the U.S. after Canada paved the way in late 2018 and 2019 for legalization in North America.

Jonathan is also an active member of the underground hip-hop scene. He has worked with some of the biggest names in the rap community while also gaining valuable insight from top producers and business moguls focused on moving brands forward. In his free time, Jonathan builds social communities and continues to hone his skills as a leading financial writer.

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