The Ioneer Ltd (ASX: INR) share price is leaping higher on Friday despite the company's silence. However, the stock did tumble more than 20% over the course of Wednesday and Thursday.
At the time of writing, the Ioneer share price is 52 cents. That's 14.29% higher than its previous close but 3.7% lower than it was at the end of last week.
For context, the All Ordinaries Index (ASX: XAO) has gained 0.94% today and 0.77% since last Friday's close.
Let's take a closer look at what's been going on with the lithium and boron producer and its peers today.
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What's driving the Ioneer share price higher today?
The Ioneer share price is the ASX All Ordinaries' top performer on Friday.
The S&P/ASX 200 Materials Index (ASX: XMJ) is also having a good day today. While the company isn't a constituent of the S&P/ASX 200 Index (ASX: XJO), many of its lithium-producing peers are among the sector's leaders.
Right now, the share prices of fellow lithium stocks Liontown Resources Limited (ASX: LIO), Pilbara Minerals Ltd (ASX: PLS), and Mineral Resources Limited (ASX: MIN) are up 6.3%, 6.1%, and 5.2% respectively.
The lithium miners' share prices' gains might represent a rebound after Wednesday's disastrous session.
Then, the market appeared to react to bearish sentiment from Goldman Sachs and news a major Chinese electric vehicle manufacturer could bypass lithium markets.
The Ioneer share price tumbled 16% on Wednesday and another 6% on Thursday. Thus, today's movements might be a simple correction following the sell-off.
Though, the gain hasn't been enough to boost the stock back into the longer-term green.
The Ioneer share price is still nearly 37% lower than it was at the start of 2022. However, it is 38% higher than it was this time last year.
