Insights

Novonix (ASX:NVX) share price leaps to another new all-time high

A forecast boom in electric vehicle production is driving investor interest in lithium shares.
The post Novonix (ASX:NVX) share price leaps to another new all-time high appeared first on The Motley Fool Australia. –

The Novonix Ltd (ASX: NVX) share price is soaring to another new all-time high.

At time of writing, the ASX lithium-ion battery company is trading for $6.22 per share, up 3.67% in intraday trading, having earlier posted gains of more than 8%.

Below, we look at what been driving the Novonix share price to a series of new records.

What’s driving the extended run higher?

The Novonix share price has set a number of new record highs over the past month.

While there are company specific factors helping drive the company’s valuation higher, it also looks to be benefiting from rapid growth in the demand outlook for lithium-ion batteries. These are among the top options to power the expected explosion in electric vehicles (EVs) numbers over the coming years.

In the first 2 weeks of September alone, booming demand for lithium saw technical and battery grade lithium carbonate prices rocket by more than 20% in the Chinese domestic market, according to data from Bench Mark Minerals.

Battery grade lithium prices have now soared 215% in 2021.

As for the Novonix share price? It’s up 408% in 2021.

Another tailwind for Novonix shares is the reshuffle in the S&P/ASX Indices announced by S&P Dow Jones a few weeks ago. That reshuffle sees Novonix join the S&P/ASX 300 Index (ASX: XKO), effective as of market open this morning.

Its inclusion in the ASX 300 may not directly impact retail investors. However, it will open the door to some institutional funds which are limited to investing in the top 300 ASX shares.

Novonix share price snapshot

It’s been a banner year for Novonix investors, with shares up 408% year-to-date and 72% in the past month alone.

By comparison, the All Ordinaries Index (ASX: XAO) is up 9% in 2021.

The steady run higher has seen Novonix’s market capitalisation exceed $2.4 billion.

The post Novonix (ASX:NVX) share price leaps to another new all-time high appeared first on The Motley Fool Australia.

Should you invest $1,000 in Novonix right now?

Before you consider Novonix, 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 Novonix 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

Which ASX shares are looking to finish the week as the top movers on the ASX 300 today?

The Novonix (ASX:NVX) share price appears to have come off the boil. Is it a buy?
Why Australian Ethical, Brambles, Novonix, & Zip shares are tumbling lower

Novonix (ASX:NVX) share price falls on broker downgrade
Why Centaurus Metals, IGO, Novonix, Rhinomed shares are storming higher

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.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!