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