#5 - American Lithium (AMLI) (NASDAQ:AMLI)
American Lithium Corp. (NASDAQ: AMLI) is evidence of the risk of investing in stocks that rely on the price of underlying commodities. In this case, AMLI stock soared in early 2023 based on the expected demand for lithium, particularly as it relates to the electric vehicle (EV) industry.
The EV revolution may not be happening as quickly as many investors would have hoped. But all you have to see is the massive amount of investment that automakers are making to electrify their fleets to know that this is the beginning of a lithium supercycle. The United States still expects to need one million tons of lithium carbonate production by 2030.
The company recently received a $13 million grant to increase its manufacturing capability in the United States. And the company also recently received its first permit to drill at its project in Peru. And the company is expecting to receive two additional permits to drill in the region.
That being said, American Lithium is not only unprofitable, but it is also a pre-revenue company. That means AMLI stock is only for the most risk-tolerant investors.
About American Lithium
American Lithium Corp., an exploration and development stage company, engages in the acquisition, exploration, and development of resource properties in the United States. It principally focuses on the TLC Lithium Project located in the town of Tonopah, Nevada; and the Falchani Lithium project and the Macusani Uranium project located in Puno, Peru.
More- Current Price
- $0.35
- Consensus Rating
- Strong Buy
- Ratings Breakdown
- 2 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $3.25 (837.7% Upside)
