Lithium prices have crashed after a two-year bull run led by soaring demand in China. The spot price of lithium plunged 70% between last November and April of this year. The key component in electric vehicle (EV) batteries has been driven lower by a downturn in China’s EV market, and also by a weakening global economy and slumping consumer demand for electric vehicles worldwide. While the crash in lithium prices has been disheartening, it has brought down the prices of some high-flying stocks of lithium-producing companies, presenting a buying opportunity for shrewd investors.
With lithium stocks down, investors would be smart to take a position now before the battery metal prices rise again, lifting the entire industry higher. Get rich with these three lithium stocks that are on the rise or likely to rise in the near future.
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