Lithium companies have jumped on the news that Tesla will build a huge lithium battery factory

Lithium companies have jumped on the news that Tesla will build a huge lithium battery factory. The lithium ETF (LIT) has gained 10% in two days: (VIEW LINK). Lithium is not a huge market, and 50% of the ETF is made up of the majors: Rockwood, FMC, and SQM. Battery makers and tech companies make up most of the other 50%. Local players in this sector include my old friend Orocobre (ASX:ORE) which is up 17% since yesterday morning. Orocobre is now just a few months from first production, right at a time that Tesla's (NASDAQ:TZLA) growth is driving lithium prices. Charts of the two stocks in fact show an increasing amount of correlation. Here's more on tesla: (VIEW LINK)


1 topic

The Livewire Equities feed brings you a range of insights that relate to Australian equities

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.