Lithium Americas (LAC)

Sep 1, 2022Trade Ideas

Keep an eye on lithium stocks, like Lithium Americas (LAC).

The stock now sits at double bottom support at its 200-day moving average. With plenty of demand for lithium and low supply, we’d like to see the LAC stock run back to $34 a share, near-term. Helping, “global automakers plan to invest half a trillion in EVs and battery tech,” according to Electrek. “For this reason, lithium prices are up over 400% compared to 2021.”

They added, “New clean energy incentives are expected to push the market even higher. The senate just approved the largest climate bill ever, with over $400 billion in funding for clean energy over the next 10 years. With this in mind, Grand View Research forecasts lithium market revenue to reach $18.99 billion, representing a 153% jump compared to this year ($7.49 billion).” That being said, recent lithium stock weakness may be an opportunity.

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