The Core Lithium Ltd (ASX: CXO) share price is continuing to recover from its disastrous Wednesday performance today.
At the time of writing, the Core Lithium share price is trading $1.23, 7.89% higher than its previous close.
For context, the broader market is also in the green today. The S&P/ASX 200 Index (ASX: XJO) is up 0.72% right now. Meanwhile, the All Ordinaries Index (ASX: XAO) is boasting a 0.81% gain.
Let's take a closer look at what might be going on with the ASX lithium share on Friday.
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Is this driving the Core Lithium share price today?
Core Lithium stock is rebounding alongside many of its ASX lithium peers today after the sector suffered a major tumble earlier this week.
The company's stock slumped 20.43% on Wednesday after a bearish outlook from Goldman Sachs and reports Chinese electric vehicle manufacturer BYD is aiming to produce its own lithium.
Today's (and yesterday's) gains might, therefore, be a simple market correction following the sell-off event.
Indeed, fellow ASX lithium shares such as Pilbara Minerals Ltd (ASX: PLS), Liontown Resources Limited (ASX: LIO), and Lake Resources NL (ASX: LKE) are rebounding today. They're currently up 5.04%, 5.8%, and 10.5% respectively.
Additionally, shares in lithium giant Mineral Resources Limited (ASX: MIN) is among the leaders of the ASX 200 today, having gained 4.1%.
Despite Wednesday's downfall, the Core Lithium share price is still 95% higher than it was at the start of 2022. It has also gained more than 370% since this time last year.
