Albemarle ( (ALB) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Albemarle’s stock took a hit, dropping 11%, following the news of a major lithium mine in China resuming operations. This development is expected to increase lithium supply, putting downward pressure on prices, which is a concern for Albemarle as a leading lithium producer. Analysts have adjusted their outlook, maintaining a Hold rating while considering the shifting dynamics in the lithium market.
More about Albemarle
YTD Price Performance: -3.57%
Average Trading Volume: 4,307,269
Technical Sentiment Signal: Sell
Current Market Cap: $9.6B
For further insights into ALB stock on TipRanks’ Stock Analysis page.
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