Weekly News Update: Uber, LAC, ALB, SQM, Tesla, and so much more!

There was much to keep track of over this past week.  We’ve got you covered with all the latest happenings and with what we thought were the top headlines of the last week.

  • There is much speculation about Rio Tinto’s interest in purchasing a stake in SQM. Speaking of SQM, the company reported earnings this past week which we covered here.
  • Australia continues to garner much of the attention in the Lithium space and was the feature story in the economist.
  • ALB CFO Scott Tozier was quoted as saying that many of the Lithium Junior Miners are inflating their resources and that often as a result, “valuations look way overvalued.”  Much of this great piece was on future consolation in the industry which we believe will happen over time.  
  • Insider share purchases are often a signal to be bullish about a company.  As such, we always look closely at which companies insiders are buying shares.  This past week, it was reported that Lithium America’s Gabriel Rubacha purchased 15,000 shares of $LAC stock.  
  • There was a fascinating article on how Tesla’s newest truck and roadster “promises to break the laws of batteries.”  Speaking of Tesla, Elon Musk’s wild bet paid off this week as he delivered the world’s biggest battery.  Finally, back to the Tesla Semi, Walmart has reportedly pre-ordered 15 of the trucks which is a big vote of confidence coming from the world’s largest retailer.  
  • Uber is reportedly getting into the EV business and will be introducing hundreds of EV’s in Dehli, India.    
  • Global electric car sales jumped 63 percent.  China accounted for more than half of those EV sales.  
  • Mike Beck, who is the founder of Regent Advisors, said that Lithium prices are probably on their way to “$100,000 a tonne.”  Click the link and go to about 12:20 to hear his point on Lithium pricing.  H/T to Matt Bohlsen’s Lithium Miner News for pointing out this clip.  

If you don’t already, follow us on twitter at www.twitter.com/thelithiumspot to stay up to date with all our latest thoughts!  

 

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