The Best Lithium Stocks of 2022 -- Are Any Buys in 2023?
In 2022, lithium stocks, in general, outperformed the market. Of course, that's not saying much since last year was the S&P 500 index's worst year since 2008.
More importantly, the long-term growth prospects for select lithium stocks still look bright. Demand for lithium to make batteries for electric vehicles (EVs) has been soaring and is projected to continue to be strong for many years. Supply has been tight, sending prices rocketing. The existing players have plans to further ramp up production and new companies are entering the space, but it generally takes a long time for significant new sources of lithium to come on line.
While a stock's past performance isn't necessarily indicative of its future performance, it is often reflective of a company's competitive advantages and the quality of its top management. So it can be helpful to consider past performance when you're making stock investing decisions.
Source Fool.com
