LTHM - Albemarle lithium miners sweep to strong gains after Biden exec order

Albemarle (ALB +5.9%) shares rip to all-time highs after reporting above-consensus Q2 earnings and raising guidance for full-year net sales because of increased lithium sales. But lithium miners are rising across the board following what Citi's P.J. Juvekar sees as a mere "small beat" and Keybanc's Aleksey Yefremov calls "modestly positive," including LTHM +6.9%, LAC +4.7%, PLL +3.3% and SQM +2.1%. ETF: LIT Al Root at Barron's believes the company's "fine quarter" is being overshadowed by President Biden's executive order targeting 50% of U.S. new car sales to be electric by 2030. "If Biden's goals are met - and the rest of the world does nothing else - the global lithium-mining industry would still have to grow four-fold to meet America's new EV demand," Root writes. Albemarle CEO Kent Masters thinks Biden's ambitious goals are already baked into automakers' plans and should not markedly change lithium demand. "It's probably in

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Albemarle, lithium miners sweep to strong gains after Biden exec order