Lithium is the principal ingredient used in the production of rechargeable batteries. Over the past few years, renewable energy has gained importance. Several portable devices, including smartphones and tablets, use lithium batteries. Lithium is also used to develop batteries for many other fields, including the automotive industry. Therefore, the best lithium stocks are great investment opportunities.
Investment in lithium is constantly on the rise. President Biden stated earlier this year that US renewable resources will generate 80% of the country’s electricity by 2030.
This creates favorable prospects for the best lithium stock prices since lithium production companies and mines will grow.
Moreover, commercial batteries are primarily composed of lithium compounds. Battery production accounts for about 70% of lithium production worldwide, according to the US Geological Survey. Check out these best lithium stocks.
Piedmont Lithium Inc. (NASDAQ: PLL)’s stock price was $51.81 at the previous market close, with its latest volume reaching 0.35 million. Compare that to its average daily volume of 353.01K. Given the fact that this stock has 15.75M shares outstanding, its current market value is sitting at $50.86.
A recent spot check on the stock’s support and resistance revealed that the publicly-traded Piedmont Lithium Inc. (NASDAQ: PLL) shares are trading at a price close to -26.17% lower than its 90-day high. On the other hand, the stock is +3.31% away from its low in the 90-day period. More broadly, PLL’s current price is -42.83% away from a 52-week high. The price is 100.55% above its 52-week low.
Lithium Americas Corp. (NYSE: LAC) is currently trading at around $28.96, a price level that means its value has jumped 152.93% higher than its 52-week low. In intraday trading, lac shares have hit a high of $29.43 and a low of $28.25. The last 52 weeks have seen the company’s shares touched a high of $41.56 and a low of $11.45, while the recent trading session has witnessed an intraday change of just -2.00%.
Focusing on the company’s market volatility shows that it has a 1-Week Volatility index of 4.77%, and 7.61% for the month. This stock’s Average True Range (ATR) currently stands at 2.42, with the beta factor poised at 1.39. The indicator of Volatility helps exhibit the extent to which a stock is likely to plummet or climb when the rest of the market also dips or surges. If a stock has a beta score above 1, then its rate of volatility is high. Figures lower than 1, therefore, mean that the stock’s volatility at that particular moment is low.
Albemarle Corporation (NYSE: ALB) does about 1.15M shares in volume on a normal day but saw 0.57 million shares change hands in Wednesday trading. The company now has a market cap of $26.88 billion. Its current market price is $232.53, marking a decrease of -0.12% compared to the previous close of $232.80. The 52 week high reached by this stock is $291.48 whilst the lowest price level in 52 weeks is $133.82. The script in recent trading has seen the stock touched a high of $232.91 and a low of $227.065.
Volatility is just a proportion of the anticipated day-by-day value extend—the range where an informal investor works. Greater instability implies more noteworthy benefit or misfortune. After an ongoing check, Albemarle Corporation (NYSE: ALB) stock is found to be 2.58% volatile for the week, while 4.14% volatility is recorded for the month. The outstanding shares have been calculated at 116.97M. Based on a recent bid, its distance from 20 days simple moving average is -4.83%, and its distance from 50 days simple moving average is -8.49% while it has a distance of 14.07% from the 200 days simple moving average.