by Fred Fuld III
Yesterday, Piedmont Lithium (PLL) spiked 236% on the news that the company made an agreement with Tesla (TSLA) to supply lithium for batteries.
News of the deal caused other lithium mining stocks to escalate yesterday, such as Lithium Americas (LAC) up 27.5%, Sociedad Quimica y Minera (SQM) up 4% and Livent (LTHM) up 5.8%.
Lithium is one of the critical components of batteries used in electric vehicles, which has created a huge demand for this element. It is the lightest metal and the lightest solid element. Interestingly, it is also used for psychiatric medication.
The following stocks are involved in the production of lithium.
| COMPANY | SYMBOL | MKT CAP in millions |
| Albemarle | ALB | 9,198 |
| Sociedad Quimica y Minera | SQM | 8,199 |
| Livent | LTHM | 1,295 |
| Lithium Americas | LAC | 945 |
| Orocobre | OROCF | 571 |
| Pilbara | PILBF | 498 |
| Galaxy Resources | GALXF | 322 |
| Piedmont Lithium | PLL | 314 |
| American Lithium | LIACF | 70 |
| American Battery Metals | ABML | 52 |
| Power Metals | PWRMF | 28 |
One of these stocks might give your portfolio a charge.
Disclosure: Author didn’t own any of the above at the time the article was written.