Amidst all of the global carnage, there does remain some bright spots. With markets rebounding savagely from the most rapid decline since the Great Depression, much of the COVID-induced rout seems to have been forgotten, unless of course we look at travel and leisure stocks, which still, have managed to rebound healthily in the face of decimated demand and overall activity.
Aside from this, there are still a few star performers. One such star performer is South Korea’s LG Chem, which has recently booked USD$125billion in forward orders. The gargantuan order book places the South Korean giant atop the pile when measured against global contemporaries, and further cements the battery industry as a bright spot within an increasingly gloomy overall economic outlook. Surging demand for battery technology has seen LG Chem and a range of its competitors continue to enjoy growth in the midst of what is likely to be a new recession. The changing face of automotive production, energy generation and consumer habits have coalesced to create a segment which appears on face value to be the ‘next big thing’ – although supporters will argue this is not news, and the writing has been on the wall for several years. Read more…
Chart of the Day
<h2>Icarus TV</h2> <p>Social Capital CEO Chamath Palihapitiya told CNBC on Thursday that Tesla's growth is no longer about its electric cars, but its renewable energy components. That could make Elon Musk's company worth trillions, he added.</p>https://youtu.be/hX6Cp4vNexc