Lithium stocks are on fire.
In early July, we mentioned that the International Energy Agency just warned that, “At least 30 times as much lithium, nickel and other key minerals may be required by the electric car industry by 2040 to meet global climate targets.”
We also mentioned that demand was expected to outstrip supply by 20% over the next four years, reports Benchmark Mineral Intelligence, as noted by Reuters. We also noted some of the best ways to trade the boom was with Albemarle (ALB), Lithium Americas (LAC), and American Lithium (LIACF) to name a few.
Since then:
- ALB ran from $167 to $235
- LAC ran from $14 to $17.94
While LIACF has remained flat since our note, other lithium stocks are still exploding higher.
Fueling the fire, President Biden unveiled an executive order targeting 50% of U.S. new car sales to be electric by 2030, as reported by Barron’s.
According to the White House on August 5, “Specifically, the President will sign an Executive Order that sets an ambitious new target to make half of all new vehicles sold in 2030 zero-emissions vehicles, including battery electric, plug-in hybrid electric, or fuel cell electric vehicles. The Executive Order also kicks off development of long-term fuel efficiency and emissions standards to save consumers money, cut pollution, boost public health, advance environmental justice, and tackle the climate crisis.”
That alone could fuel a multi-year boom for lithium.
The post This is Why the Lithium Bull Market is Far From Over appeared first on Morningology.
