This Could Push Albemarle Stock Higher in 2020
With disappointing news in hand for the latest quarterly performance, Albemarle (NYSE: ALB) wisely made the difficult decision to set expectations for investors at the end of October. The move paid off. There weren't any deviations when official third-quarter 2019 operating results were reported in early November -- and the lithium stock actually hit three-month highs when the numbers were released.
That might not be much consolation to investors, considering shares have dropped 17% in the last three years. Given the gloomy market conditions for lithium materials, it's easy to think the stock will remain pressured for the foreseeable future. Albemarle has even told investors that full-year 2020 adjusted EBITDA could be 10% lower than the level expected to be achieved this year. Management has already begun to refocus investors on 2021.
Despite the conservative outlook, management also recently hinted at positive developments that could unfold in 2020. Here's what investors need to know -- and why the events could push the lithium stock higher.
Source Fool.com
