2 Top Lithium Stocks for Investors to Load Up on Now
Lithium stocks are on fire. No matter where you look, from well-established lithium mining companies to young players that are yet to generate any revenue, most lithium mining stocks have surged by triple-digit percentages in just the past couple of years or so.
It's no coincidence that the electric vehicle (EV) industry took off at around the same time -- global EV sales rose 40% in 2020 and then doubled in 2021 to record highs. Two things surged alongside EV sales: demand for lithium-ion batteries that power nearly every EV out there today, and investor interest in lithium mining stocks.
This could just be the beginning. EVs still made up barely 10% of global car sales in 2021, and demand for lithium-ion batteries could grow at a compound annual average rate of 30% over the next decade, according to consulting firm McKinsey & Company. Lithium prices already hit record highs in March this year.
Source Fool.com
