Lithium stocks are on the move today as several catalysts send shares of companies in the market higher Wednesday.
The first big bit of news worth noting is President Joe Biden’s administration announcing earlier this week plans to increase battery production for electric vehicles (EVs) in the U.S. This is a $3 billion effort that will require lithium as it’s an essential component in the creation of EV batteries.
While that’s the basic general news, there are other more specific reasons for lithium stocks rising today. Let’s get into that below!
Lithium Stocks Rising
- Livent (NYSE:LTHM) stock starts us off with a 21.1% gain as of Wednesday afternoon. That comes after the company posted an earnings beat for the first quarter of 2022. It attributed this to higher lithium prices.
- Lithium Americas (NYSE:LAC) shares are up next with the stock rising around 1% this afternoon. There’s no company-specific news behind this but increasing demand for lithium is a contributing factor.
- Albemarle (NYSE:ALB) stock closes out our lithium list today with a roughly 4% jump in price. That comes after it announced a special dividend and prepares to release its most recent earnings report tomorrow.
Investors will want to keep an eye on the lithium market in the coming months to see if these stocks will maintain higher trading levels. It’s possible they do with a continuing shift toward EVs.
There’s more than just lithium stocks news worth talking about on Wednesday!
Luckily, we’ve got all the most recent stock coverage that traders need to know about today! That includes what has shares of DiDi Global (NYSE:DIDI), Akamai (NASDAQ:AKAM), and Satellogic (NASDAQ:SATL) stock on the move Wednesday. You can read all about that at the following links!
More Wednesday Stock Market News
- Why Is DiDi (DIDI) Stock Falling Again Today?
- Why Is Akamai (AKAM) Stock Plunging 10% Today?
- Why Is Satellogic (SATL) Stock Up Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.