Trading Concept
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Trading Concept
No Result
View All Result
Home Trading News

Lithium Miner Stock Jumps Double Digits. What Gives?

by
November 24, 2021
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter
Text size

A SQM lithium mine in Chile’s Atacama Desert.

Cristobal Olivares/Bloomberg

Shares in lithium miner SQM jumped double digits on Monday. The reason why is a little hard to divine.

Earnings didn’t do it. When Chile-based SQM (ticker: SQM) reported third-quarter numbers last week, the needle barely moved—up just 0.3%, compared with the 11.7% in midmorning trading Monday, The S&P 500 and Dow Jones Industrial Average are both up about 0.8%.

RELATED POSTS

Who Is Still Buying Russian Oil And Gas?

Will mortgage rates hit 7% in near future? Here’s what the chief economist of the National Association of Realtors says about that

Big EV news didn’t do it. Lithium is a key ingredient in the lithium ion batteries that power electric vehicles so a major EV announcement can move lithium stocks. On Monday,


Tesla

(TSLA) did say it might start selling the Model S Plaid edition—its fastest car—in China early next year. But that’s hardly earthshaking.

This time, a political development looks like the reason behind the pop. The first round of the Chilean presidential election ended with a conservative candidate leading. The Chilean IPSA Index was up 7.7% on Monday. SQM’s Chilean shares were up 8.4% in Monday trading.

Chilean politics qualify as a surprise. SQM, as a Chilean company, would be directly affected by any economic policies of a right-wing president. U.S. investors probably aren’t dialed into the result of that context.

Shares of other big lithium miners also gained on Monday.


Livent

(LTHM) was up 5.2%, though Livent’s South American assets are in Argentina—not Chile.


Albemarle

(ALB), which has a footprint in Chile, was up, too—1.5%.

But even a smaller player with assets only in the U.S. felt a bump.


Piedmont Lithium

(PLL) was up 5%.

The upticks seem, frankly, a little odd—like traders are looking at the reaction of one stock and seeing what peer stocks are doing.

The outlook for lithium is solid. EV penetration is increasing rapidly as the price for EVs comes down and as governments—and car companies—commit to more electrified personal transportation.

That theme, however, isn’t new.

In the long run, the market gets things right. Over any shorter span, however, sometimes stock moves can just look odd.

Write to Al Root at allen.root@dowjones.com

ShareTweetPin

Related Posts

Who Is Still Buying Russian Oil And Gas?

by
July 3, 2022
0

Reuters Video shows Ohio officers killed unarmed Black man in hail of bullets AKRON, Ohio (Reuters) -Video released on Sunday...

Will mortgage rates hit 7% in near future? Here’s what the chief economist of the National Association of Realtors says about that

by
July 3, 2022
0

Will mortgage rates rise? Getty Images/iStockphoto Mortgage rates have been on a steady climb upwards: While they started the year...

Recession Measures and NBER

by
July 3, 2022
0

by Calculated Risk on 7/03/2022 03:18:00 PM On Business Cycle Dating from NBER: The NBER's definition emphasizes that a recession...

Altria’s Dividend Yield Spiked After Juul Ban. The Payout Looks Secure.

by
July 3, 2022
0

The FDA's bid to ban Juul products—like these at a shop in El Segundo, Calif., on a recent day—has weighed...

German road traffic agency says 59,000 Tesla vehicles have software glitch

by
July 3, 2022
0

In this article TSLA Tesla CEO Elon Musk speaks during the official opening of the new Tesla electric car manufacturing...

Next Post

Germany considers a full Covid lockdown and mandatory vaccines

Here’s why Santa may skip Wall Street this year

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • WHO says Covid vaccine booster programs will prolong pandemic

    0 shares
    Share 0 Tweet 0
  • Spin or Split? AT&T Has a Big Decision to Make on Discovery Stake.

    0 shares
    Share 0 Tweet 0
  • Here’s how Carl Icahn is positioning for a possible recession in America

    0 shares
    Share 0 Tweet 0
  • Some lawmakers and their families are betting thousands of dollars on crypto

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by tradingconcept.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.tradingconcept.net