For investors seeking momentum, Global X Lithium ETF (LIT - Free Report) is probably on radar now. The fund just hit a 52-week high and is up around 121% from its 52-week low price of $17.83/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
LIT in Focus
The underlying Solactive Global Lithium Index tracks the performance of the largest and most liquid listed companies that are active in the exploration and/ or mining of Lithium or the production of Lithium batteries. It charges 75 basis points in annual fees (see all Materials ETFs here).
Why the Move?
Clean energy investing has been riding high lately. Tesla’s (TSLA) strong surge helped this fund emerge a winner lately. This is because most plug-in hybrids and all-electric vehicles use lithium-ion batteries.
More Gains Ahead?
Currently, the fund LIT has a positive weighted alpha of 80.90. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
For investors seeking momentum, Global X Lithium ETF (LIT - Free Report) is probably on radar now. The fund just hit a 52-week high and is up around 121% from its 52-week low price of $17.83/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
LIT in Focus
The underlying Solactive Global Lithium Index tracks the performance of the largest and most liquid listed companies that are active in the exploration and/ or mining of Lithium or the production of Lithium batteries. It charges 75 basis points in annual fees (see all Materials ETFs here).
Why the Move?
Clean energy investing has been riding high lately. Tesla’s (TSLA) strong surge helped this fund emerge a winner lately. This is because most plug-in hybrids and all-electric vehicles use lithium-ion batteries.
More Gains Ahead?
Currently, the fund LIT has a positive weighted alpha of 80.90. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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