The AVZ Minerals Ltd (ASX: AVZ) share price has surged despite the company keeping relatively quiet throughout the past month.
In fact, the ASX-listed lithium player shares have powered ahead by 34% since this time last month.
At the time of writing, AVZ Minerals shares are up 1.31% to $1.16.
What’s driving AVZ Minerals to extraordinary levels?
As one of the largest ASX-listed lithium players, investors have been taking advantage of the hype surrounding the lithium revolution.
Indeed, a lot of attention has been turned to the incredible rise in the spot price for lithium.
Over the past year alone, lithium carbonate has rocketed by more than 450% in value.
The battery making ingredient is expected to be adopted across a number of industries, notably the transitioning to electric vehicles.
Furthermore, AVZ Minerals was included in the S&P/ASX 200 Index on 21 March following a quarterly rebalance of the S&P/ASX Indices.
It appears the updated list has led investors to take advantage of the change.
In addition, most fund managers are required to adhere to their strict guidelines, which allows them to buy shares only within a certain index.
About the AVZ Minerals share price
AVZ Minerals shares have raced ahead by more than 550% since this time last year.
The company’s share price reached an all-time high of $1.365 this week before treading lower in the past 2 days.
AVZ Minerals presides a market capitalisation of roughly $4 billion and has approximately 3.45 billion shares on its books.
The post Why has the AVZ Minerals share price rocketed 34% in a month? appeared first on The Motley Fool Australia.
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More reading
- These 3 ASX 200 shares are topping the volume charts on Wednesday
- Here are the 3 most heavily traded ASX 200 shares on Tuesday
- These are the best ASX lithium stocks so far in 2022
- Here are the 3 most heavily traded ASX 200 shares on Monday
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Motley Fool contributor Aaron Teboneras 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.
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