Li-S Energy (ASX:LIS) share price up another 3% in second day of trading

green fully charged battery symbol surrounded by green charge lights

Yesterday, we saw what turned out to be one of the hottest ASX IPOs of 2021 play out. That would be the Li-S Energy Ltd (ASX: LIS) share price.

LIS shares had an ASX debut to remember yesterday after the lithium-sulphur battery company rocketed an incredible 174% by the end of the day, rising from its IPO price of 85 cents a share to finish the trading day at $2.33.

That’s not all though. At one point soon after market open yesterday, Li-S Energy shares hit a high of $3.05 a share. That represents a gain of almost 260%. Not bad for day one, one could say.

Today, Li-S Energy has had a far less dramatic start to the trading day. The Li-S share price is currently trading at $2.41 a share this morning after opening at $2.36. That’s up another 3.4% from where the company closed at yesterday.

So far, at least in its short history on the ASX, the Li-S Energy share price has turned out to be quite the market defier.

Whilst Li-S Energy was enjoying its 200%-plus gains yesterday, the broader S&P/ASX 200 Index (ASX: XJO) was having a clanger of the day. The ASX 200 ended up down a nasty 1.6% by the end of the trading day.

This trend looks to be continuing today. While Li-S Energy has opened pretty strongly today, the ASX 200 is continuing its sell-off so far this morning, down 1.01% at the time of writing to 7,202 points. These ASX 200 moves come after some equally depressing falls on the US markets, both last night and the night prior (our time).

What’s behind the Li-S Energy share price?

Behind the dramatic moves we saw yesterday with Li-S Energy’s enthusiastic IPO, we have an emerging energy company working on a new battery technology.

As we covered yesterday, Li-S Energy’s flagship battery uses a lithium-sulphur compound for energy storage, which the company believes offers superior energy density, longevity and safety over the widely-used lithium-ion technology of today.

At the current Li-S Energy share price, the company has a market capitalisation of $1.49 billion.

The post Li-S Energy (ASX:LIS) share price up another 3% in second day of trading appeared first on The Motley Fool Australia.

Should you invest $1,000 in Li-S Energy right now?

Before you consider Li-S Energy, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Li-S Energy wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3maz5S6

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s