The cost of raw materials for electric vehicles (EVs) has risen, given the sanctions placed on Russian metals and the continued supply chain disruptions worldwide. The cost and supply issues have had a negative impact on EV companies, as far as production and margins go.
EV stocks have declined, but I view the lower prices as an opportunity, considering that the industry’s bullish tailwinds remain intact.
One EV company whose share price has recently fallen is Livent Corp (NYSE:LTHM), a key supplier of lithium for EV batteries. Livent stock is down by 33% from its recent high of $34.61, which was set in May.
For long-term investors, LTHM stock’s correction could be viewed as an opportunity.
Dips in LTHM Stock’s Price Present an Opportunity
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