Tesla's stock surge and better-than-expected car deliveries may signal an EV market recovery, potentially benefiting lithium miner Albemarle.
Tesla's stock surge and better-than-expected car delivery data may signal an EV market recovery. If so, stocks such as lithium miner Albemarle, machine vision firm Cognex, and ON Semiconductor could benefit, as EVs rely on lithium batteries for power. Albemarle, the leading lithium player, has faced challenges due to slow EV sales growth and high lithium inventories, but improved demand could boost its stock.
July 13, 2024
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