Today we are going to discuss the to lithium and battery stocks to buy now, based on Insider Monkey’s latest article. Since the lithium batteries were invented, the world has been able to use devices longer. Actually, metallic lithium is mined in South America, and China, while Chile and Australia have outstanding lithium reserves among countries.
Lithium-ion batteries are used in electrical consumer devices, such as smart watches, smartphones, electric cars, radio controlled toy vehicles, and in many other devices and household gadgets. These types of batteries require around 0.15 kg to 0.3 kg of lithium per kWh. These batteries are in high demand for electric vehicles, since they have much longer life capacity, lighter weight and smaller size. As we go forward in the 21st century, the technological advancement increases the importance of these batteries, in numbers it means that lithium batteries demand increases to about ten times between 2018 and 2030. Consequently, it’s worth condsidering investing in these stocks.
Now, let’s quit the tittle tattle and show you what you’ve really come here for. We have picked up two companies from Insider Monkey’s list, as usual. Albemarle Corp (NYSE: ALB) stands on the fifth place of the compilation with a considerable abount of $112 million total revenue hegde fund holdings. Albemarle Corp is headquartered in North Carolina, and manufactures fine chemicals. It’s alos regarded to be the biggest electric vehicle provider of lithium. Actually, Ken Griffin’s Citadel Investment Group is the top hedge fund holder with owning more than US$34 million invested in the stock in the third quarter of the 2020. FMC Corporation (NYSE: FMC) follows Albamerle on the third spot with its total value of hedge fund holdings of $525 million. It’s headquartered in Philadelphia, Pennsylvania, and it operates in lithium used in batteries, high-strength plastics, pharmaceuticals, lubricants, and high-purity silicon computer chips. Ross Turner’s Pelham Capital is the top hedge fund holder, with owning $128 million invested in the stock in the third quarter of the 2020. To gain more information what stocks to buy, please skip ahead to the entire list of the top lithium and battery stocks to buy now.