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Benzinga
  • 3 years ago
Sprott has established itself as a trusted global asset manager. Amongst the company’s most compelling products is its Lithium Miners ETF - LITP. Listed on the NASDAQ, LITP is a pure play ETF investing in companies that mine and produce lithium.

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00:00 Over the last four decades, Sprott has established itself as a trusted global asset manager.
00:06 Amongst the company's most compelling products is its Lithium Miners ETF, or LITP.
00:12 Listed on the Nasdaq, LITP is a pure-play ETF investing in companies that mine and produce
00:17 lithium.
00:18 Lithium is a critical component of modern technology, especially EV batteries and clean
00:21 energy storage, and the need for it only seems to be growing as the world pushes towards
00:25 an electrified future.
00:27 The demand for lithium is expected to soar in the coming years, presenting a unique opportunity
00:31 for investors to participate in the growth of the lithium mining sector.
00:35 LITP is tied to the Nasdaq Sprott Lithium Miners Index, NSLITP.
00:40 The index is designed to track the performance of a selection of global securities in the
00:43 lithium industry, including lithium producers, developers, and explorers.
00:48 LITP is up almost 7% on the month.
00:50 This comes after some exciting news in the lithium space.
00:53 The first big piece of news was Alkem and LeventCorp announcing a merger deal that will
00:57 create the world's third-largest lithium producer, valued at $10.6 billion.
01:02 Another bit of news came out of Tesla as Elon Musk broke ground on a lithium refining plant
01:05 in Texas that will greatly expand the production capabilities of Tesla.
01:09 The new facility will process more lithium than the rest of North America combined.
01:13 The spot price of lithium has continued to rise from a recent low.
01:16 [MUSIC PLAYING]
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