Li-S Energy (ASX:LIS) share price up another 3% in second day of trading

How are Li-S Energy shares going on their second day of ASX trading?

Sebastian Bowen

Author Bio Sebastian Bowen has been a Motley Fool contributor since late 2018. Sebastian found his passion for writing and educating others about shares and all things finance after completing his studies in political, economic and social science and enjoys bringing this passion to life at the Fool. His investment philosophy is a simple one – buying high-quality companies at prices that make sense. When he’s not researching his next investment at all hours of the morning, Sebastian enjoys classic movies and likes to unwind with a good book, newspaper or record. Areas of Expertise Dividend investing ETFs Education Bachelor of Political, Economic, and Social Sciences (Government and International Relations), University of Sydney Social Media X/Twitter Favorite Investment Quote "In the short run, the market is a voting machine, but in the long run, it is a weighing machine." – Benjamin Graham

Published September 29, 2021 11:30 am AEST

Yesterday, we saw what turned out to be one of the hottest ASX IPOs of 2021 play out. That would be the Li-S Energy Ltd (ASX: LIS) share price.

LIS shares had an ASX debut to remember yesterday after the lithium-sulphur battery company rocketed an incredible 174% by the end of the day, rising from its IPO price of 85 cents a share to finish the trading day at $2.33.

That's not all though. At one point soon after market open yesterday, Li-S Energy shares hit a high of $3.05 a share. That represents a gain of almost 260%. Not bad for day one, one could say.

Today, Li-S Energy has had a far less dramatic start to the trading day. The Li-S share price is currently trading at $2.41 a share this morning after opening at $2.36. That's up another 3.4% from where the company closed at yesterday.

So far, at least in its short history on the ASX, the Li-S Energy share price has turned out to be quite the market defier.

Whilst Li-S Energy was enjoying its 200%-plus gains yesterday, the broader S&P/ASX 200 Index (ASX: XJO) was having a clanger of the day. The ASX 200 ended up down a nasty 1.6% by the end of the trading day.

This trend looks to be continuing today. While Li-S Energy has opened pretty strongly today, the ASX 200 is continuing its sell-off so far this morning, down 1.01% at the time of writing to 7,202 points. These ASX 200 moves come after some equally depressing falls on the US markets, both last night and the night prior (our time).

A green fully charged battery symbol surrounded by green charge lights representing the surging Vulcan share price today — Image source: Getty Images

What's behind the Li-S Energy share price?

Behind the dramatic moves we saw yesterday with Li-S Energy's enthusiastic IPO, we have an emerging energy company working on a new battery technology.

As we covered yesterday, Li-S Energy's flagship battery uses a lithium-sulphur compound for energy storage, which the company believes offers superior energy density, longevity and safety over the widely-used lithium-ion technology of today.

At the current Li-S Energy share price, the company has a market capitalisation of $1.49 billion.

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