Why Albemarle Rose 10.3% in January

Shares in specialty chemicals company Albemarle (NYSE: ALB) rose 10.3% in January, according to data provided by S&P Global Market Intelligence.  

The increase builds on a great 2020 for the stock and is almost certainly tied to optimism around its lithium business. The chemical is a key component of batteries used in electric vehicles (EV). Investors have been buying the stock in anticipation of strong demand growth for the chemical for many years to come.

Lithium is used in batteries for electric vehicles. Image source: Getty Images.

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Source Fool.com