Will These Lithium Stocks Rise This Month?
Lithium stocks have seen an increased amount of momentum as time has gone on. The explanation for this phenomenon is quite simple actually. As you may know, the fastest-growing automotive trend at the moment is electric-powered vehicles. Most if not all production EVs use lithium-ion batteries. So as the EV sector has grown over time, the lithium sector has in tandem.
Lithium stocks are still in a volatile position despite all of the good things going for them. It may seem unlikely, but if different battery technology is discovered that is more efficient, it could replace lithium. Some companies are testing other types of batteries in EVs. For now, lithium-ion batteries are the main battery used in these vehicles. As our world becomes more tech-based and digital it only helps lithium further its reign in the market.
Some may think that the hype is over for lithium stocks when they are going down. But some lithium stocks are making multiple percentage gains as the year continues on. There are a few things that can help decide which penny stocks to watch. If you keep up with the latest company, sector, and world news that can impact lithium stocks, it can be beneficial when investing. For now, let’s take a look at three lithium stocks that have potential in August 2021.
Top Lithium Stocks To Watch
- Lithium Americas Corp. (NYSE: LAC)
- Piedmont Lithium Inc. (NASDAQ: PLL)
- Livent Corporation (NYSE: LTHM)
Lithium Americas Corp. (NYSE: LAC)
Lithium Americas Corp. is a mining stock that explores for lithium deposits. The business holds interest in the Cauchari-Olaroz Project, Thacker Pass project, and more. These developments are located in Argentina and Nevada. This lithium stock has experienced a lot of positive momentum in the last year and a half. So let’s look at what the company is up to right now.
Lithium Americas Corp. has a large investment in Arena Minerals Inc. On July 26th, the company announced the closing of the acquisition of the Sal de la Puna lithium project. The President and CEO of the company, William Randall said, “With recent developments in the Pastos Grandes basin closing this acquisition secures Arena with a strategic and key land package within a world class basin. Closing the acquisition of Sal de la Puna project as part of the Centaur Acquisition, with the support of our partner Ganfeng Lithium and strategic financing by Lithium Americas, is a transformative event for Arena.” With this recent advancement in mind, will you add LAC stock to your watchlist this week?
Piedmont Lithium Inc. (NASDAQ: PLL)
Piedmont Lithium Inc. is a lithium stock with a primary focus on project exploration. It explores and develops various resource projects all over the United States. Piedmont has 100% interest in the Piedmont lithium project located in North Carolina. It also owns another property in Kings Mountain, North Carolina.
On August 2nd, Piedmont provided a corporate update on its accomplishments and development plans. The company’s President and CEO Keith D. Phillips said, “Piedmont is positioned to become a leading producer of lithium hydroxide while positively impacting the communities in which we operate by creating jobs, attracting other EV supply chain participants, increasing the tax base, and broadly supporting other local small businesses. Through direct investment and contracted offtake, we control a significant quantity of potential spodumene concentrate production in three critical locations.”
On the same day, Piedmont announced that it has delayed the timeline for its lithium chemicals supply to Tesla Inc. (NASDAQ: TSLA). The company currently does not have a definitive date for deliveries beginning. Although this hurt PLL stock, it is rising in the market once again. PLL stock is up nearly 6% in the market on August 2nd. Keeping this in mind, is PLL a contender for your list of lithium stocks to watch?
Livent Corporation (NYSE: LTHM)
Livent Corporation is a lithium stock that makes and sells lithium-ion batteries. The company also sells polymer and chemical synthesis applications as well. It operates in North America, Latin America, Europe, Middle East, Africa, and the Asia Pacific. Livent offers lithium compounds for use in applications like lithium hydroxide for potteries as well. Now let’s take a look at what things are impacting the stock price of LTHM.
On June 30th, Livent published its 2020 sustainability report. The company’s President and CEO Paul Graves said, “Despite the difficulties of the global pandemic, we made significant strides to advance our sustainability strategy and program, including setting bold new goals and improving our ESG performance and reporting in key areas. Our ongoing efforts are underpinned by the belief that the responsibility to operate in a safe, ethical, socially conscious, and sustainable manner is a fundamental obligation of our right to operate – and essential for the viability of our business.” Now the company will be releasing its second-quarter earnings on August 5th. So will Livent make it on to your list of lithium stocks to watch?
Best Lithium Stocks To Buy?
Lithium stocks have been growing in value a lot recently. If you create an investment strategy it can help when deciding which lithium stocks to watch. As earnings season goes on, we will see which companies show high performance and are able to go up in the market. So which lithium stocks will enter your watchlist?
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