Image Source: Getty Images
NS Novonix Ltd (ASX: NVX) Despite the suffering of a wide range of markets, stock prices soared today.
Fortunately for Novonix shareholders, the company’s stock has evaded the genocide. As of Thursday’s closing price, Novonix’s share price was $ 6.82, 3.65% higher than at the end of Wednesday’s session.
So why did you gain a share of battery-focused graphite and graphite anode producers on Thursday? Let’s take a look.
Novonix stock price rise on Thursday
Novonix shares had a great day, even though the company hadn’t released any news. And what makes the gain more anomalous is the fact that it’s actually not that anomalous.
Novonix’s share price has risen 30% in the last three weeks, but the company hasn’t released price-sensitive news since August.
Interestingly, there doesn’t seem to be a broader catalyst for Novonix’s move today. In fact, many of its fellow battery technology stocks spent the day in the red.
Lithium-sulfur battery technology company and ASX beginners Li-S Energy Ltd (ASX: LIS) Today, stock prices have fallen 3.1%.At the same time, lithium suppliers, boron producers, and Buyers of Galaxy Resources previously listed on ASX, Orocobre Limited (ASX: ORE) It fell 5.9%.
However, there are some events that can explain what happened to Novonics’ stock price on Thursday.
For one thing, the surge Lithium rally ASX experienced this week.
Novonix does not handle lithium. However, as a battery technology company, they tend to run in the same packs as lithium producers.
ASX’s lithium stock rebounded earlier this week, boosted by rising lithium prices and news from electric car giants. Tesla, Inc. (NASDAQ: TSLA)..Tesla Value exceeds $ 1 trillion rear Hearts We have decided to add 100,000 Tesla cars to our rental fleet.
In addition, the Australian Government Promises to reach zero net carbon emissions By 2050 earlier this week.
The government’s plan focuses on the development of new low-emission technologies. Therefore, market watchers may have assumed that stocks like Novonix could benefit from it.
While there is no guarantee that any of the above events have helped boost Novonix’s share price today, its shareholders will be pleased to dodge the ASX downturn on Thursday.
NVX) Did the stock price rise by 4%?
Source link NVX) Did the stock price rise by 4%?