The stock that I pick for this week is Albermarle (ALB). As my previous post noted on this topic I am not a stock broker just an individual who likes to play the market based on what I consider today’s realities. Albermarle is one of the largest miners of Lithium a product that not only is used in many of your hand held batteries but in those that drive the Tesla and other electric cars engines. As electric car demand increases so should the demand of this commodity and with the current administration push to green this can only help companies such as Albermarle. Yet I don’t recommend actually buying the stock at this price but put in an option to get at a lower price in the coming months for $156.17 a share might be to high a risk. I would recommend selling a put at $140.00 in May or so once it has a bit of downward pull. Albermarle is my stock of the week because unlike the 70’s where plastic is key (line from the Graduate) today it is Lithium.
FOOTNOTE- If Albermarle (ALB) takes too much out of your wallet you might want to look into Livent (LTHM) which is a lower at $20.06 it might be the bargain you’re looking for.