Albemarle Stock Falls Over 50% as Lithium Prices Decline, But Long-Term Outlook Still Strong
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Albemarle Corporation's (ALB) stock declined due to falling lithium spot market prices, primarily in China.
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Despite short-term challenges, the long-term outlook for the global lithium market remains strong.
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Albemarle plays a key role in the electric vehicle battery supply chain.
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As of October 2022, ALB shares were down over 50% over the past year.
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Albemarle was held by 41 hedge funds in Q2 2022, unchanged from the previous quarter.