The Liontown Resources Limited (ASX: LTR) share price is taking off on Thursday despite the company's silence.
However, it's joined in the green by many of its fellow ASX lithium shares.
At the time of writing, the Liontown share price is $1.07, 4.93% higher than its previous close.
For context, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.1%.
Let's take a look at what might be helping to boost the ASX lithium share higher on Thursday.
Image source: Getty Images
What's going on with Liontown Resources stock lately?
The Liontown Resources share price is in the green today after spending seven consecutive sessions in the red.
In fact, the lithium-focused explorer and developer's stock fell nearly 29% over the first 15 days of June, spurred by a broader lithium sell-off that saw it tumble 19% in a single session.
That's despite the company announcing a deal with Tesla Inc (NASDAQ: TLSA) that will likely see the electric vehicle giant snapping up close to a third of the company's Kathleen Valley lithium project's production.
Today, ASX lithium shares – including Liontown Resources – appear to be rebounding from their weeks-long suffering.
The S&P/ASX 200 Materials Index (ASX: XMJ) is currently recording a 0.68% gain.
Other lithium favourites including Pilbara Minerals Ltd (ASX: PLS), Core Lithium Ltd (ASX: CXO), Allkem Ltd (ASX: AKE), and Lake Resources NL (ASX: LKE) are also pushing higher today. They've gained 4.9%, 6.5%, 2.1%, and 9.9%, respectively, at the time of writing.
Liontown share price snapshot
Unfortunately, today's gains haven't been enough to boost the Liontown Resources share price back into the long-term green.
The company's stock is still 39% lower than it was at the start of 2022. Though, it is 61% higher than it was this time last year.
