Top Rated Lithium Stocks for Smart Investors in New York

top rated lithium stocks are attracting significant attention from savvy investors in New York and globally, as the demand for lithium continues to surge, driven by the exponential growth of electric vehicles (EVs) and renewable energy storage solutions. Identifying the top rated lithium stocks to buy in 2026 is crucial for those looking to capitalize on this critical metal’s expanding market. This guide offers a comprehensive overview of the lithium sector, focusing on key companies with strong fundamentals, significant production capabilities, and promising growth prospects accessible to investors in New York. We delve into the factors that make a lithium stock ‘top rated,’ including operational efficiency, resource reserves, technological innovation, and financial health, ensuring you are well-equipped for informed investment decisions.

In 2026, the lithium market is poised for continued expansion, fueled by global decarbonization efforts and advancements in battery technology. For New York’s discerning investors, understanding these dynamics is key to identifying opportunities that align with long-term growth strategies. We will examine leading lithium producers, emerging players, and companies involved in various stages of the lithium value chain. Our analysis aims to provide a clear picture of the risks and rewards associated with investing in this vital sector, helping you navigate the complexities and select the best lithium stocks for your portfolio. By staying informed about market trends, company performance, and future outlooks, investors can strategically position themselves for success in this dynamic and essential industry.

Understanding the Lithium Market’s Importance

Lithium is an indispensable element for modern technology, serving as the primary component in lithium-ion batteries that power a vast array of devices, from portable electronics to electric vehicles and grid-scale energy storage systems. The global shift towards sustainable energy and transportation has placed lithium at the center of a significant industrial transformation. Its demand is projected to grow exponentially in the coming years, making companies involved in its extraction, processing, and supply chain critical players in the global economy. For investors in New York, understanding the fundamental drivers of lithium demand is key to identifying top rated lithium stocks.

The market’s growth is intrinsically linked to the pace of EV adoption, advancements in battery chemistry, and the development of new energy storage solutions. Geopolitical factors, environmental regulations, and the efficiency of extraction and refining processes also play pivotal roles in shaping market dynamics. As governments worldwide implement policies to support clean energy initiatives, the strategic importance of lithium is amplified, creating a robust environment for investment in companies that can reliably meet this growing demand. The volatility of lithium prices, influenced by supply-demand imbalances and market speculation, adds another layer of complexity that investors must navigate. Successful investment requires a deep understanding of these interconnected factors.

The Driving Force: Electric Vehicles and Energy Storage

The automotive industry’s rapid transition to electric vehicles is the single largest driver of lithium demand. Major global automakers have committed to electrifying their lineups, phasing out internal combustion engines and investing heavily in EV production. This commitment translates directly into a massive requirement for lithium-ion batteries, creating an unprecedented demand for lithium. Analysts predict that the EV market will continue to expand at a rapid pace, further solidifying the need for a stable and growing lithium supply chain. Companies at the forefront of lithium production are therefore exceptionally well-positioned to benefit from this trend.

Challenges in Lithium Supply Chain Management

Despite the burgeoning demand, the lithium supply chain faces considerable challenges. Extracting and processing lithium is capital-intensive, time-consuming, and often involves complex environmental considerations. Traditional methods, such as evaporation ponds in South America, are lengthy and water-intensive, while hard-rock mining requires substantial energy input. Bringing new lithium projects online can take many years due to exploration, permitting, and construction phases, often leading to supply deficits when demand growth is rapid. Furthermore, the concentration of lithium resources and processing capabilities in specific geographic regions introduces geopolitical risks. Companies that can efficiently and sustainably scale their operations while navigating these complex challenges are likely to emerge as leaders.

Evaluating Top Rated Lithium Companies

Identifying top rated lithium stocks requires a thorough evaluation of companies based on several key criteria. These include the quality and quantity of their lithium reserves, the efficiency and sustainability of their extraction and processing methods, their financial stability, and their strategic vision for growth. Investors in New York and elsewhere should focus on companies with a proven track record, strong management teams, and a clear pathway to increasing production to meet escalating global demand. Here, we highlight some of the leading companies that consistently rank high among analysts and investors.

The companies featured below represent a mix of established global producers and promising emerging players. Each possesses unique strengths, whether it’s access to high-grade reserves, innovative processing technologies, or strategic partnerships. Conducting due diligence on each company’s specific operations, financial reports, and future expansion plans is essential for making well-informed investment decisions. Understanding their competitive positioning within the lithium value chain—from exploration and mining to refining and battery component production—will provide a more comprehensive view of their investment potential.

1. Albemarle Corporation (ALB)

Albemarle is a global leader in lithium production, boasting significant operations across North America, South America, and Australia. Their extensive portfolio includes lithium for batteries, bromine, and catalysts, providing a diversified revenue stream. ALB has been aggressively expanding its lithium production capacity, particularly for lithium hydroxide and carbonate, essential components for EV batteries. The company’s strategic asset base, including its Kings Mountain mine in North Carolina, positions it as a key player in the North American supply chain. Their ongoing commitment to R&D and sustainable practices further solidifies their reputation as a top-tier lithium producer.

2. Sociedad Química y Minera de Chile (SQM)

SQM, based in Chile, is a major producer of lithium derived from the mineral-rich brines of the Atacama Desert. Chile is one of the world’s largest sources of lithium, and SQM leverages this advantage through efficient extraction processes. Despite navigating complex regulatory environments, the company remains a crucial supplier of lithium carbonate and hydroxide to the global market. SQM’s focus on operational efficiency and its expansion plans are critical factors for investors evaluating its position in the market. Their long-standing expertise in brine operations is a significant asset.

3. Ganfeng Lithium (GFLPY)

Ganfeng Lithium, a prominent Chinese company, operates across the entire lithium value chain, from resource extraction to battery manufacturing and recycling. This vertical integration provides a competitive edge and resilience. With a global portfolio of lithium projects in Australia, Argentina, and China, Ganfeng has established itself as a significant force in the international lithium market. Their commitment to innovation, including substantial investments in battery recycling technologies, positions them favorably for the future of sustainable energy. Ganfeng’s expansive production capacity and market reach make it a key company to monitor.

4. Livent Corporation (LTHM)

Livent is a specialized producer of high-purity lithium carbonate and lithium hydroxide, sourced from both brine and hard-rock operations, with a strong presence in Argentina and North America. The company focuses on meeting the stringent quality requirements for advanced battery technologies. Livent’s strategic growth initiatives include expanding its production capacity and enhancing operational efficiencies. Their ability to adapt to evolving market demands and maintain strong customer relationships underscores their position as a reliable supplier in the increasingly competitive lithium landscape.

5. Pilbara Minerals (PILFF)

Pilbara Minerals, an Australian company, operates the Pilgangoora project, one of the world’s largest independent hard-rock lithium deposits. They are a significant producer of spodumene concentrate, a key precursor material for lithium chemicals. Pilbara’s focus on large-scale, cost-efficient mining operations makes it a vital contributor to the global lithium supply chain. The company’s ongoing efforts to increase production capacity and secure off-take agreements highlight its strategic approach to market leadership. Its position in a stable mining jurisdiction like Australia adds to its investment appeal.

6. Lithium Americas Corp. (LAC)

Lithium Americas Corp. is focused on developing significant lithium projects in North America, notably the Thacker Pass project in Nevada, USA, and the Caucharí-Olaroz project in Argentina. The Thacker Pass project is particularly noteworthy for its potential to bolster domestic lithium supply within the United States, aligning with national strategic interests. The company’s progress in advancing these projects, securing necessary permits, and forming strategic partnerships makes it a key player for investors interested in North American lithium resources.

7. Allkem Limited (OROCF)

Allkem Limited, a product of the merger between Orocobre and Galaxy Resources, is a globally diversified lithium company with assets across Australia, Argentina, and Canada. Their portfolio includes both brine and hard-rock lithium operations, providing a balanced exposure to different resource types and geographies. This strategic diversification enhances the company’s resilience and offers multiple avenues for growth. Allkem’s combined expertise and expanded operational footprint position it as a significant and rapidly growing entity in the global lithium market.

How to Choose the Right Lithium Stock

Selecting the right lithium stock requires a careful assessment of various factors beyond just the company’s name or the commodity’s price trend. For investors in New York and globally, understanding the nuances of the lithium market and the specific characteristics of each company is paramount. A well-informed decision involves evaluating a company’s operational strengths, financial health, management quality, resource potential, and its strategic positioning within the evolving energy landscape. This section provides a framework for choosing lithium stocks that align with your investment goals and risk tolerance for 2026 and beyond.

A common pitfall is focusing solely on short-term price movements without considering the underlying fundamentals. It is essential to look at a company’s long-term strategy, its ability to scale production sustainably, and its resilience to market volatility. Diversification across different types of lithium assets—such as brine, hard rock, and even recycling—can also be a prudent strategy. Furthermore, staying abreast of technological advancements in battery technology and lithium extraction is crucial, as these can significantly impact a company’s competitive position and long-term viability. Investing in companies that demonstrate adaptability and a commitment to innovation is often a wise approach.

1. Analyze Resource Quality and Quantity

The foundation of any successful lithium mining company lies in its access to high-quality, economically viable lithium reserves. Investors should examine geological reports and company disclosures regarding the size, grade, and accessibility of their lithium deposits. Companies with large, high-grade reserves are generally better positioned for long-term, cost-effective production. Understanding the resource classification (proven, probable, possible) and the stage of development (exploration, development, production) is also critical for assessing risk and potential.

2. Evaluate Operational Efficiency and Costs

Operational efficiency directly impacts a company’s profitability. Investors should scrutinize a company’s production costs per ton of lithium equivalent (lithium carbonate or hydroxide). Lower operating costs provide a competitive advantage, especially during periods of fluctuating lithium prices. Factors influencing costs include the extraction method (brine vs. hard rock), energy prices, labor costs, and the efficiency of processing facilities. Companies that demonstrate consistent cost control and operational improvements are more attractive investments.

3. Assess Financial Health and Capital Structure

A company’s financial stability is crucial for its ability to fund expansion projects and weather market downturns. Key financial metrics to examine include revenue growth, profitability, cash flow generation, debt levels, and liquidity. A strong balance sheet and consistent cash flow indicate a company’s financial resilience. Investors should also consider the company’s capital expenditure plans and its ability to finance these projects through equity, debt, or operational cash flow without excessive dilution or financial strain.

4. Consider Management Team and Strategy

The quality and experience of a company’s management team are vital indicators of its future success. Investors should research the management’s track record, their strategic vision for the company, and their ability to execute their plans. A clear strategy for growth, including expansion projects, technological innovation, and market development, is essential. Furthermore, understanding the company’s approach to environmental, social, and governance (ESG) factors is increasingly important, as these can impact operational continuity and investor sentiment.

5. Analyze Market Position and Growth Potential

It is important to understand a company’s market position relative to its peers and its overall growth potential. Consider factors such as market share, geographic diversification, customer relationships, and competitive advantages. Companies that are well-positioned to capitalize on the secular growth trends in EVs and energy storage, and possess a clear strategy for expanding their production capacity, are likely to offer attractive investment opportunities. Evaluating the company’s competitive landscape and its ability to maintain or enhance its market share is key.

Benefits of Investing in Top Rated Lithium Stocks

Investing in top rated lithium stocks offers a compelling opportunity to participate in a sector fundamental to the global transition towards sustainable energy and transportation. The relentless growth in demand for electric vehicles (EVs) and renewable energy storage solutions creates a powerful long-term tailwind for companies involved in the lithium supply chain. For investors in New York and across the globe, these stocks represent a chance to align their portfolios with major secular trends shaping the future economy. This section details the key benefits of adding these stocks to your investment strategy.

The rapid expansion of the EV market is a primary catalyst. Governments worldwide are actively promoting EV adoption through incentives and regulations, creating a predictable and expanding market for lithium-ion batteries. Companies that can reliably supply the necessary lithium are poised for significant growth. Furthermore, the increasing need for grid-scale energy storage to support intermittent renewable sources like solar and wind power adds another substantial layer of demand for lithium-based battery technologies. This dual demand stream from both transportation and energy sectors provides a robust foundation for sustained growth in the lithium market, making top rated lithium stocks an attractive proposition for 2026.

1. Exposure to the EV Revolution

The global automotive industry is undergoing a profound transformation, with manufacturers accelerating their transition to electric vehicles. This shift directly fuels an unprecedented demand for lithium-ion batteries, making lithium a critical raw material. Investing in top rated lithium stocks allows investors to gain direct exposure to this monumental change. As EV adoption rates climb worldwide, the companies that can secure and scale their lithium production will be essential enablers of this revolution, offering substantial growth potential.

2. Participation in Renewable Energy Storage

Lithium-ion batteries are not only powering vehicles but are also increasingly vital for storing energy from renewable sources like solar and wind. As grids integrate more renewables, the need for reliable energy storage solutions escalates. Lithium batteries provide a scalable and efficient means to store surplus energy and ensure grid stability. Investing in leading lithium companies means supporting this critical infrastructure development and capitalizing on the growing demand for grid-scale energy storage solutions.

3. Diversification within a Growth Sector

The lithium sector offers a unique diversification opportunity within a high-growth industry. The demand drivers for lithium—technological shifts in transportation and energy—are somewhat independent of traditional economic cycles, although commodity prices can exhibit volatility. Adding lithium stocks to a portfolio can help balance risk by providing exposure to a sector with distinct growth catalysts, potentially enhancing overall portfolio resilience and return potential.

4. Potential for Significant Capital Appreciation

Given the projected increase in lithium demand and the capital-intensive nature of mining and processing, companies that successfully navigate these challenges are positioned for significant capital appreciation. The ongoing global focus on decarbonization and sustainable technologies underscores the long-term importance of lithium. Investors who identify and invest in well-managed, strategically sound lithium companies early on may realize substantial returns as the market continues to expand. The outlook for 2026 and beyond remains highly positive for the sector.

Top Lithium Stocks in New York’s Investment Landscape (2026)

Navigating the landscape of top rated lithium stocks requires a keen eye for companies that demonstrate resilience, innovation, and strategic positioning in a rapidly evolving market. For investors based in New York, a global financial hub, access to a wide range of investment opportunities is readily available. This section highlights key lithium companies poised for significant growth in 2026, including Maiyam Group, which offers a unique global sourcing perspective. These companies are selected based on their robust operational frameworks, substantial resource bases, and commitment to meeting the escalating global demand for lithium, driven by the electric vehicle and energy storage sectors.

Maiyam Group, operating from DR Congo, presents a compelling option for investors seeking ethically sourced and quality-assured lithium. As a premier dealer in strategic minerals, their direct access to mining operations and expertise in international trade standards distinguishes them in the global market. Their comprehensive portfolio, including essential industrial minerals like lithium, makes them a valuable partner for manufacturers and investors navigating the complexities of mineral supply chains. Companies like Maiyam Group, alongside established global players, are crucial in ensuring a stable and sustainable supply of lithium for the future.

1. Maiyam Group

Maiyam Group, headquartered in Lubumbashi, DR Congo, is a distinguished leader in the mineral trade, specializing in strategic minerals and commodities such as lithium. The company excels in ethically sourcing and quality-assuring minerals, connecting Africa’s rich geological resources with global industries across five continents. Their commitment to international trade standards and environmental regulations ensures reliability and trust. Maiyam Group’s expertise spans critical sectors, supplying essential minerals like lithium to technology innovators and battery manufacturers worldwide. Their unique value proposition lies in combining geological expertise with advanced supply chain management, offering customized mineral solutions. This makes them a standout choice for sourcing premium lithium, especially for industries prioritizing responsible and quality-assured materials in 2026.

2. Albemarle Corporation (ALB)

Albemarle remains a titan in the lithium industry, consistently recognized for its large-scale production and strategic expansions in key lithium-rich regions. Its robust financial performance and ongoing investments in increasing capacity for lithium hydroxide and carbonate solidify its position as a top-rated stock. ALB’s commitment to innovation and sustainability further enhances its appeal to discerning investors.

3. Ganfeng Lithium (GFLPY)

Ganfeng Lithium’s comprehensive vertical integration, from resource extraction to battery recycling, provides a significant competitive advantage. As a major global player, its expansive production capacity and continuous investment in new technologies, including recycling, position it strongly for long-term growth. The company’s global reach and diversified project portfolio make it a cornerstone of the lithium supply chain.

4. Sociedad Química y Minera de Chile (SQM)

SQM leverages its significant position in Chile’s Atacama Desert to produce lithium from brine resources efficiently. Despite regulatory complexities, its substantial production capacity and cost-effective operations keep it among the leading lithium suppliers. SQM’s ongoing efforts to optimize extraction and expand output are crucial for meeting global demand.

5. Livent Corporation (LTHM)

Livent focuses on producing high-purity lithium carbonate and hydroxide, catering to the stringent demands of advanced battery technologies. Its strategic expansion projects, particularly in North America, and its commitment to operational excellence and sustainability make it a reliable and attractive option for investors seeking quality lithium exposure.

6. Pilbara Minerals (PILFF)

Pilbara Minerals operates one of the world’s largest independent hard-rock lithium mines, the Pilgangoora project in Australia. Its focus on large-scale, cost-efficient production of spodumene concentrate is vital for the global battery materials supply chain. The company’s ability to scale operations reliably makes it a key player in the hard-rock lithium sector.

7. Lithium Americas Corp. (LAC)

Lithium Americas is actively developing major lithium projects, including the significant Thacker Pass project in Nevada, USA. This project’s potential to contribute to domestic lithium supply aligns with strategic national interests. The company’s progress in advancing its projects and securing key partnerships is closely watched by investors seeking North American lithium exposure.

8. Allkem Limited (OROCF)

Formed from the merger of Orocobre and Galaxy Resources, Allkem boasts a diversified portfolio of lithium assets across multiple continents, including both brine and hard-rock operations. This diversification provides strategic resilience and multiple avenues for growth, positioning Allkem as a rapidly expanding and influential entity in the global lithium market.

Pricing and Investment Considerations for Lithium Stocks

Understanding the financial dynamics of lithium stocks is crucial for investors aiming to make informed decisions. The price of lithium itself is a primary factor influencing the profitability of mining companies, but numerous other elements contribute to a stock’s valuation and investment potential. For investors in New York, evaluating these factors ensures a strategic approach to capitalizing on the growth of this essential commodity. This section explores the key pricing influences and investment considerations relevant to top rated lithium stocks for 2026.

The cost of lithium production varies significantly based on extraction methods, geographic location, energy inputs, and environmental compliance standards. Companies with lower production costs per ton of lithium equivalent possess a distinct competitive advantage, especially during periods of market volatility. Analyzing a company’s cost structure, its capital expenditure plans, and its ability to fund growth initiatives is essential. Furthermore, the increasing emphasis on ESG factors means that companies investing in sustainable practices may command higher valuations and enjoy greater investor confidence. A thorough understanding of these financial aspects is key to identifying high-potential lithium stocks.

Factors Influencing Lithium Prices

Lithium prices are predominantly driven by the fundamental balance between global supply and demand. The accelerating adoption of electric vehicles and the expansion of renewable energy storage systems have created a robust demand environment. However, the supply side can be constrained by the long lead times required for new mine development, processing bottlenecks, and geopolitical considerations in major producing countries. Speculative trading and market expectations also contribute to price volatility, making it essential for investors to monitor these dynamics closely.

Cost of Production and Operational Efficiency

The cost of extracting and processing lithium differs based on the source material (brine or hard rock) and the geographical location. Brine operations in South America often have lower operating costs but longer processing times, while hard-rock mining in Australia can involve higher capital and operational expenses but faster production. Companies that achieve lower production costs through efficient operations, technological advancements like Direct Lithium Extraction (DLE), and economies of scale tend to achieve higher profit margins and are more resilient to price fluctuations.

Geopolitical Risks and Regulatory Frameworks

The concentration of lithium resources and processing facilities in specific regions presents geopolitical risks, including potential supply disruptions due to political instability or changes in government policies. Regulatory frameworks, environmental standards, and taxation policies in producing countries can significantly impact operational costs and investment decisions. Companies with diversified operations across stable jurisdictions and strong compliance records are generally viewed more favorably by investors seeking to mitigate these risks.

Investment Metrics and Valuation

When evaluating top rated lithium stocks, investors should analyze key financial metrics such as revenue growth, earnings per share (EPS), profit margins, and cash flow. Valuation ratios like the price-to-earnings (P/E) ratio and price-to-sales (P/S) ratio should be compared against industry averages and historical levels. Assessing a company’s debt levels and its ability to service its obligations is also crucial. Ultimately, the potential for future growth, driven by increasing lithium demand, should be weighed against the current stock valuation to determine its investment attractiveness for 2026.

Avoiding Common Mistakes in Lithium Stock Investing

Investing in the volatile but potentially lucrative lithium market requires careful consideration and a strategy to avoid common pitfalls. For investors in New York and across the globe, understanding these risks is crucial for protecting capital and maximizing returns. Chasing speculative trends without due diligence, overlooking fundamental financial health, or failing to account for market volatility can lead to significant losses. This section outlines key mistakes to avoid when investing in top rated lithium stocks, ensuring a more informed and disciplined approach through 2026.

One prevalent error is succumbing to the hype surrounding lithium without thoroughly researching the underlying companies. It is vital to look beyond the commodity price and assess the operational efficiency, management quality, and long-term strategy of each company. Another mistake is failing to diversify adequately. Concentrating too heavily on a single company or segment of the lithium value chain can expose an investor to excessive risk. Diversifying across multiple strong companies, perhaps even across different stages of the supply chain (mining, processing, battery manufacturing), can help mitigate these risks. Staying informed about technological advancements, such as the development of next-generation batteries or novel extraction techniques, is also essential, as these can reshape the competitive landscape and significantly impact a company’s future prospects.

1. Ignoring Company Fundamentals

A common mistake is focusing solely on the rising price of lithium and assuming all lithium stocks will perform well. It is essential to analyze each company’s financial health, including its revenue growth, profitability, debt levels, and cash flow. Companies with strong fundamentals are better positioned to weather market volatility and capitalize on long-term growth opportunities.

2. Overlooking Production Costs and Efficiency

Not all lithium producers are created equal. Companies with higher production costs are more vulnerable to price downturns. Investors should research a company’s cost per ton of lithium equivalent and its operational efficiency. Companies that employ advanced technologies or have access to low-cost resources typically have a competitive advantage.

3. Underestimating Market Volatility and Cyclicality

Commodity prices, including lithium, can be highly volatile and cyclical. Investors who are not prepared for potential price swings may panic sell during downturns. It is important to have a long-term investment horizon and a strategy that accounts for market fluctuations, such as dollar-cost averaging.

4. Neglecting Geopolitical and Regulatory Risks

Lithium production is concentrated in certain geographic regions, making companies susceptible to geopolitical instability and changes in government regulations. Investors should assess the political and regulatory risks associated with a company’s operating regions and consider the potential impact on supply and costs.

5. Failing to Consider Technological Advancements

The battery technology landscape is constantly evolving. The development of new battery chemistries or more efficient lithium extraction methods (like DLE) could disrupt the market. Investors should favor companies that are investing in innovation and adapting to technological changes rather than those relying solely on existing methods.

6. Lack of Diversification

Putting all your investment capital into a single lithium stock is risky. Diversifying across several companies, possibly with different operational focuses (e.g., brine vs. hard rock) or stages of the value chain, can spread risk and potentially enhance returns. Even within the lithium sector, diversification is key.

7. Ignoring ESG Factors

Environmental, social, and governance (ESG) concerns are increasingly important for investors. Companies with poor ESG track records may face reputational damage, regulatory scrutiny, or operational disruptions. Investors should consider a company’s commitment to sustainability and responsible practices.

Frequently Asked Questions About Top Rated Lithium Stocks

Conclusion: Selecting Top Rated Lithium Stocks for Your Portfolio

The lithium market presents a compelling investment opportunity, underpinned by the global transition to electric vehicles and renewable energy storage. For investors in New York and worldwide, identifying top rated lithium stocks requires a strategic approach that considers company fundamentals, market dynamics, and future growth prospects. By focusing on companies with strong resource bases, efficient operations, sound financial health, and a commitment to innovation and sustainability, investors can position themselves to benefit from the sustained demand for this critical metal. Companies like Albemarle, Ganfeng Lithium, SQM, Livent, Pilbara Minerals, Lithium Americas, Allkem, and the globally focused Maiyam Group offer diverse avenues for exposure to this burgeoning sector. Careful due diligence, a long-term perspective, and an understanding of the inherent risks—such as price volatility and geopolitical factors—are essential for making informed investment decisions in 2026.

Key Takeaways:

• The demand for lithium is projected to grow significantly, driven by EVs and energy storage.
• Top rated lithium stocks offer exposure to these major secular growth trends.
• Evaluate companies based on resources, operational efficiency, financial health, and management.
• Diversification within the lithium sector and across different asset types is recommended.
• Maiyam Group provides a unique, ethically sourced global supply option.
• A long-term investment horizon and risk management are crucial for navigating market volatility.