Among the S&P 500’s biggest fallers on Wednesday October 02 was Albemarle Corporation (ALB). The stock experienced a 2.55% decline to $66.57 with 1.2 million shares changing hands.
Albemarle Corporation started at an opening price of 67.38 and hit a high of $67.47 and a low of $66.10. Ultimately, the stock took a hit and finished the day at $1.74 per share. Albemarle Corporation trades an average of n/a shares a day out of a total 105.99 million shares outstanding. The current moving averages are a 50-day SMA of $n/a and a 200-day SMA of $n/a. Albemarle Corporation hit a high of $108.74 and a low of $58.63 over the last year.
Albemarle is the world's largest lithium producer. Our outlook for robust lithium demand is predicated upon increased demand for electric vehicle batteries. Albemarle produces lithium from its salt brine deposits in Chile and the U.S. and its hard rock joint venture mines in Australia. Albemarle is also a global leader in the production of bromine, used in flame retardants, and oil refining catalysts.
With its headquarters located in Charlotte, NC, Albemarle Corporation employs 5,900 people. After today’s trading, the company’s market cap has fallen to $7.06 billion, a P/S of n/a, a P/B of 1.86, and a P/FCF of n/a.
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For all the attention paid to the Dow Jones Industrial Average (DJIA), it’s the S&P 500 that’s relied on by insiders and institutional investors. It represents the industry standard for American large-cap indices.
The Dow is made up of just 30 stocks to the S&P 500’s 500, and it uses an unreliable and outdated price-weighting system where the S&P 500 relies on market cap in weighting its returns. This is why its long-term returns is a much more reliable gauge for the performance of large- and mega-cap stocks over time.
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