Why is the Novonix (ASX:NVX) share price surging 11% to an all-time high today?

why is the novonix asxnvx share price surging 11 to an all time high today

Sumary of Why is the Novonix (ASX:NVX) share price surging 11% to an all-time high today?:

  • Not only that, they hit $10.74 earlier this morning, which is a new all-time high for this company.
  • The company said this new facility would “produce the high purity and high consistency anode material required for long-life batteries, specifically for electric vehicles and similar storage application”.
  • The company is a developer and supplier of materials, services, and equipment for the lithium-ion battery industry.
  • We are seeing other players in the battery and lithium spaces also enjoying some outsized gains today.
  • For instance, lithium producers Pilbara Minerals Ltd (ASX: PLS) and Orocobre Limited (ASX: ORE) are also enjoying strong performances.
  • Pilbara shares are up a healthy 3.36% at $2.62 apiece at the time of writing (a new all-time high).
  • As my Fool colleague Brooke covered earlier in the month, the catalyst for these longer gains appears to be the company’s most recent quarterly activities and cash-flow update.

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