Want to Invest in Lithium Stocks? You Might Consider This ETF
Lithium stocks are having a great year, thanks largely to rosy growth projections for electric vehicles (EVs). Lithium is needed to manufacture the rechargeable lithium-ion batteries that power EVs, and it's required to produce energy-storage products, another fast-growing market.
Shares of EV pioneer Tesla (NASDAQ: TSLA) have soared 586% this year through Nov. 25. While the major lithium producers haven't been on fire to the same degree, their performances are still stellar. So far in 2020, shares of Albemarle (NYSE: ALB), Sociedad Quimica y Minera de Chile, or SQM (NYSE: SQM), and Livent (NYSE: LTHM) -- the three largest lithium producers listed on a major U.S. stock exchange -- have returned about 87%, 86%, and 84%, respectively. And some of the smaller players have even larger gains.
If you want to gain exposure to the broad lithium space but want to spread your bets around on many stocks, you might consider investing in the Global X Lithium & Battery Tech ETF (NYSEMKT: LIT).
Source Fool.com
