Why Should You Hold Onto Albemarle Stock for Now?

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Albemarle Corporation ALB is poised to leverage strong expected growth in the battery-grade lithium market. The company should gain from rising demand for lithium-ion batteries that are used to power electric cars.

The market for lithium-ion batteries has a lot of untapped potential. Demand for these batteries are expected to go up with their increasing adoption in consumer electronic products as well as efforts to promote the use of electric cars by several governments to curb pollution.

Shares of Albemarle, which currently carries a Zacks Rank #3 (Hold), are down 8.6% year to date, outperforming the 20.7% decline of its industry.

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