The Core Lithium Ltd (ASX: CXO) share price has started the week strongly.
In morning trade, the lithium developer’s shares are up 7% to $1.22.
This means that the company’s shares are now up approximately 90% since the start of the year.
Why is the Core Lithium share price storming higher?
Investors have been bidding the Core Lithium share price higher today despite there being no news out of the lithium developer.
Today’s gain is likely to have been driven by investors returning to risk assets on Monday following a strong showing on Wall Street on Friday and news that China’s lockdowns are easing slightly.
Core Lithium isn’t the only lithium share rising today. The likes of Lake Resources (ASX: LKE), Pilbara Minerals Ltd (ASX: PLS), and Sayona Mining Ltd (ASX: SYA) are also rising materially at the time of writing.
This mirrors strong gains by lithium giants Albemarle, Sociedad Quimica y Minera de Chile (SQM), and Livent Corp on Friday night. Their US listed shares were up 7%, 9.5%, and 12.5%, respectively during the session.
Time will tell how long this positive sentiment lasts this time around. But lithium investors will no doubt be hoping it is here to stay.
The post Why is the Core Lithium share price charging 7% higher? appeared first on The Motley Fool Australia.
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More reading
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Motley Fool contributor James Mickleboro 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 Scott Phillips.
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