The Lake Resources (ASX: LKE) share price dodged today’s market carnage despite the company’s silence.
Lake Resources closed Tuesday’s market session at $1.59, up 13.6% on its previous close.
Let’s take a closer look at what’s going on with this lithium explorer.
What lifted the Lake Resources share price today?
Lake Resources would top the ASX 200 performance charts on Tuesday if not for one thing. The company isn’t included in the index – yet.
It’s set to join the ASX 200 on 22 June in the quarterly rebalance.
The company’s impending index inclusion might have bolstered its share price today. Becoming part of an index means funds tracking the index will be forced to buy Lake Resources shares in the coming weeks.
However, fellow ASX lithium share Core Lithium Ltd (ASX: CXO) is also set to join the index on 22 June, but it didn’t revel in today’s trade. It finished the session down 2.41% at $1.215.
Today’s gains included, the Lake Resources share price is 45% higher than it was at the start of 2022. It has also gained 558% since this time last year.