Only a week ago, it announced that it had signed into a collaboration agreement with Perpetua Resources to study the feasibility of processing antimony concentrates.Ĭurrently, Perpetua Resources is working on permitting a very large antimony and gold resource based in Idaho at its Stibnite Gold Project. While shares of UAMY are down by around 6% today, this is a minor correction occurring around the lithium market. So, keeping this sizable growth amount in mind, here are three lithium penny stocks to play the EV and tech market.
In the past twelve months, the Global X Lithium & Battery Tech ETF ( NYSEARCA: LIT) is up by over 130%. Right now, we find ourselves in an even more advantageous position as the supply of lithium is extremely low. This is a massive amount of growth from the $4 billion it was worth in 2020. That is an incredible amount of growth, but it makes sense given that batteries account for 70% of all lithium consumption.Īnd, that same report shows that the lithium-ion battery market could be worth more than $46 billion by the year 2026. In a report done by Deloitte, analysts stated that the demand for lithium could double or triple by the year 2030. This is especially true given the meteoric rise of Tesla Inc. 3 Hot Penny Stocks To Watch This Week Focused On Clean Energy Because of this, many lithium penny stocks to watch have come into the public eye. This includes those used in electric vehicles, smartphones, and essentially anything that is electronically powered. Lithium is the main component in most batteries used today. This has affected everything from energy stocks to tech stocks and more. For starters, lithium is one of the hottest commodities in demand around the world. And right now, there are plenty of penny stocks in the lithium industry that could be worth watching. When it comes to penny stocks, it’s important for investors to find opportunities in a diverse range of industries.
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