Topmusicanswers
- Why is Albemarle stock dropping?
- Why did ALB drop today?
- Who bought Albemarle?
- What is the target price for Alb?
Why is Albemarle stock dropping?
Since hitting its peak in 2017, Albemarle has seen its stock slide by more than 50% due almost entirely to the lithium oversupply problem. In response to the supply glut, the company decided to mothball its plans to add an extra 125,000 tons of processing capacity across all its facilities.
Why did ALB drop today?
Shares of giant lithium miner Albemarle (NYSE:ALB) fell by as much as 10% in the first hour of trading on Thursday. The price decline was largely driven by the company's earnings report, which it released after the close Wednesday.
Who bought Albemarle?
-based chemical company W. R. Grace & Co. has entered into an agreement to acquire the Fine Chemistry Services division of Albemarle Corp. for approximately $570 million, according to a news release issued by Albemarle on Friday.
What is the target price for Alb?
Stock Price Target ALB
| High | $300.00 |
|---|---|
| Median | $255.00 |
| Low | $80.00 |
| Average | $240.33 |
| Current Price | $229.91 |
