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Lithium prices are skyrocketing, driven by heightened demand. The Mineral Intelligence index of lithium carbonate and hydroxide prices has more than doubled over the past year. In addition, the Global X Lithium & Battery Tech ETF (LIT) has gained 108.1% over the past year compared to the 32.4% gains of the broader SPDR S&P 500 ETF Trust (SPY) over the same period.
Hence, we think it could be wise to invest in fundamentally sound lithium stocks Albemarle Corporation (ALB), Livent Corporation (LTHM), and Lithium Americas Corp. (LAC) to take advantage of the rising prices.
