Why Shares of Albemarle Jumped 22% in July

Extending the rise they've experienced through the first half of the year, shares of Albemarle (NYSE: ALB) climbed 22% in July, according to data provided by S&P Global Market Intelligence. Interest in electric vehicles continued to accelerate last month, motivating investors to focus on lithium stocks like Albemarle. The issue, however, is that the increasing production of these vehicles is heavily dependent on lithium for their batteries, leading investors interested in electric vehicles to pick up shares of lithium mining companies such as Albemarle.