Posted on Jan 18, 2021 9:01 AM
Tesla’s mad epic on the financial markets not only benefits Elon Musk and his investors, but also traders who have had the good taste to bet either on the operators of lithium, the essential metal in the composition of batteries, or on battery manufacturers.
The ETF Global X Lithium & Battery Tech, a fund specializing in electric vehicles, is up 15% since the start of the year, and has soared more than 65% in the last three months. As if to drive the point home, Keith Philipps, CEO of Piedmont Lithium, explained recently: “There are no electric vehicles without a battery, and there is no battery without lithium”. The action of the Australian mining company has soared by nearly 35% since January 1. Because even if the batteries of electric cars are also made of other interchangeable metals such as nickel, cobalt or manganese, “there will always be a need for the same amount of lithium”, argued Keith Philipps in the American press.