HAPPY WEDNESDAY TO THE STREET
After nearly a decade of delays, the Tesla (TSLA) Roadster finally makes its production debut tomorrow, promising 0-60 in under two seconds and an optional thruster package that lets it "fly a little."
Small catch: Tesla's own Model S Plaid hit that sprint time back in 2021. For a car built for speed, it sure took the scenic route.
🟥 | US stocks sank today on another hot inflation print and ongoing losses in AI-linked equities.
📉 | One Notable Decliner: Bank of America (BAC) tumbled after a $1.2B Treasury penalty dented Q3 profit.
— Brooks & The Street Sheet Team
MARKET SNAPSHOT
S&P 500 Heatmap. Credit: Unusual Whales
Market Movers
COREWEAVE, BLACKROCK, DELL
📉 | CoreWeave (CRWV) sank as yields on its bonds neared 15% amid AI debt fears.
📈 | BlackRock (BLK) beat Q3 estimates as assets under management hit $15.49T.
📈 | GameStop (GME) rose after CEO Ryan Cohen disclosed buying 844K shares.
📉 | IonQ (IONQ) dropped after announcing a $2B equity offering.
Tomorrow's Trade Idea, Today
BACK IN CHARGE
Stock Spotlight
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Storage Wars
Lithium's been low on juice, but it may be about to get a charge. Mizuho has upgraded Albemarle to Outperform, betting the battery metal's demand story is back on.
Analyst John Roberts pointed to booming demand for battery energy storage systems, which he says has tipped the lithium market into favorable territory.
Low Cost, High Ground
Albemarle is the lowest-cost lithium producer, per Roberts. Its improved balance sheet offers a cushion on the downside and room to invest as project returns get better.
Mizuho sees lithium carbonate prices climbing to $22,500 per metric ton by the end of 2027. Demand keeps beating expectations, while new supply stays pinned down by long lead times and thinner industry spending.
A delayed supply restart at a major Chinese battery maker could tighten things further, the analyst posits.
Current Events
Shares are deep in the red YTD, dragged down by soft lithium prices.
Mizuho has plenty of company. Of the 23 analysts covering the stock, 15 rate it a Buy or Strong Buy, while just 8 say Hold.
For a stock running on empty, that's a lot of wires plugging back in.
Do you own any shares of Albemarle Corp (ALB)?
OVERHEARD ON THE STREET
🔥 Consumer price inflation rose 3.7% in September, hotter than economists expected.
🚢 A container ship sank in the Strait of Hormuz as Iran escalates attacks on commercial vessels.
🏠 Fannie Mae now sees the 30-year fixed mortgage rate averaging 7.5% through 2027.
👵 Social Security recipients will get a 3.6% cost-of-living boost in 2027, about $75 a month.
🧴 The first new sunscreen ingredient in 25 years is hitting US store shelves.
TUESDAY'S POLL RESULTS
Do you own any shares of VF Corp (VFC)?
▇▇▇▇▇▇ 🐂 Yup, I’m holding
▇▇▇▇▇▇ 🐻 Nope, not interested
▇▇▇▇▇▇ 👀 No, but I’m interested
And, in response, you said:
🐻 Nope, not interested — “‘Seventh, but it didn't slip more this time’ is hardly a high recommendation for future performance.”
👀 No, but I’m interested — “Potential to be a big comeback story.”
