Today’s Slumping Stocks: Albemarle, CLF, RILY, and FTRE

The oversupply of electric vehicles triggered a long-term downtrend in lithium prices. Albemarle (ALB), which lost 6.92% on Monday, faces serious selling pressure. On Aug. 5, 2024, CEO Kent Masters recognized the risk from China dictating the availability of minerals used to power electric cars.CEO Masters said that countries must act now if they want to build Western supply chains for EVs. Investors wary of the lithium mining sector should avoid ALB stock, along with Sociedad (SQM) and Lithium Americas (LAC). Bears hold a 12% short interest in ALB stock and 10% against LAC stock.In the iron…