Why Albemarle's Stock Price Tumbled to Its Lowest Level Since 2020
Albemarle(ALB) Investopedia·2024-07-10 03:25
Key TakeawaysAlbemarle shares tumbled Tuesday to their lowest level since late 2020, as Baird trimmed its price target on the stock because of slumping lithium prices.Analyst Ben Kallo said lithium prices have been at or below the low end of estimates, leading to a weak second quarter for Albemarle.Another report found lithium prices fell to a 2024 low in June, and they're expected to remain depressed in July. Shares of Albemarle (ALB), the world’s biggest lithium producer, tumbled as Baird slashed its pric ...