Top Lithium Stock Albemarle Reduces 2023 Outlook, but Business Is Still In Overdrive
Currently, lithium carbonate, a key ingredient in EV batteries, is down some 70% from highs but back to where it was priced just in late 2021. Bear in mind that Albemarle, a global mining company that has been around for decades, made a hard pivot to lithium in the last few years. This explains why Albemarle's first-quarter 2023 revenue more than doubled year over year, up 129% to $2.6 billion.