The Core Lithium Ltd (ASX: CXO) share price is having a strong session.
In afternoon trade, the lithium miner's shares are up 10% to 35 cents.
This means that Core Lithium's shares are now up almost 30% since this time last week.
What's going on with the Core Lithium share price?
Investors have been buying the company's shares today despite there being no news out of it.
However, it is worth noting that a number of lithium shares are rising today and not just the Core Lithium share price.
This could be due to optimism over COP28 from last week or the high levels of M&A activity in the industry.
In respect to the latter, this week Allkem Ltd (ASX: AKE) shareholders have approved its merger with Livent Corp (NYSE: LTHM), and Azure Minerals Ltd (ASX: AZS) has accepted a joint takeover offer from Gina Rinehart's Hancock Prospecting and Sociedad Química y Minera de Chile S.A. (NYSE: SQM).
It's possible that investors may believe that recent weakness in the industry has made Core Lithium an attractive takeover option and are buying shares today in anticipation of an offer. Particularly given that its shares are still down 65% over the last 12 months despite this recent rebound.
