Why Albemarle Stock Doubled in 2020
Shares of Albemarle (NYSE: ALB) rose a dramatic 102% in 2020, according to data from S&P Global Market Intelligence. That easily trounced the roughly 16% gain in the S&P 500 Index, using the SPDR S&P 500 ETF as a proxy. That said, it wasn't a smooth ride higher, which means there's a backstory that needs to be looked at.
As 2020 began, Albemarle's stock rose pretty sharply. And then the coronavirus pandemic hit, leading the shares to drop along with the broader market. The stock then proceeded to recover, crawling back to its pre-pandemic highs. Then, around the time of the U.S. presidential election, Albemarle's shares took off, rocketing higher to close out the year with a massive gain. These ups and downs are important because they speak to the investor sentiment around a stock that has a story.
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Source Fool.com
