Orocobre (ASX:ORE) share price pushes higher amid ASX 100 inclusion

Orocobre shares are rising on Monday…

| More on:
A young man pointing up looking amazed, indicating a surging share price movement for an ASX company

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Orocobre Limited (ASX: ORE) share price is starting the week in a positive fashion. Or rather the Allkem Limited (ASX: AKE) share price is, following its change of company and ticker name.

This morning the lithium miner's shares are rising 1.5% to $9.30.

Why is the Orocobre / Allkem share price rising today?

The Orocobre / Allkem share price was given a boost this morning from the release of an announcement out of S&P Dow Jones Indices on Friday after the market close.

That announcement related to changes being made to the S&P/ASX Indices, effective prior to the open of trading on December 20 following a quarterly review.

According to the release, Orocobre is being added to the illustrious ASX 100 index later this month at the expense of outsourced administration services company Link Administration Holdings Ltd (ASX: LNK).

When a company is added to an index such as the ASX 100 or ASX 200, it often gives its shares a boost. This is due to index funds having to buy shares to reflect its inclusion and fund managers with strict mandates being able to buy shares.

Unfortunately, for Link, the opposite happens when a company is removed from an index. Which may explain why the Link share price is trading lower today.

Name change

Last week at the Orocobre annual general meeting, shareholders voted overwhelmingly in favour of changing the company's name to Allkem following its merger with fellow lithium miner Galaxy Resources.

Management explained the rationale: "Following stakeholder consultation, the Board considers that the new name more accurately reflects the strategic vision for the newly merged group as a substantial growing producer of lithium chemicals which is an increasing part of the global carbon emissions reduction solution."

Shareholders certainly agreed with this view, with 99.49% of the shareholder vote in favour of the resolution.

Should you invest $1,000 in Freelancer Limited right now?

Before you buy Freelancer Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Freelancer Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor James Mickleboro owns shares of Orocobre Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Link Administration Holdings Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Gainers

Businessman smiles with arms outstretched after receiving good news.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a wonderful Wednesday session for investors today.

Read more »

A man with a wide, eager smile on his face holds up three fingers.
Gold

3 reasons this ASX 200 gold mining giant could soar higher into 2026

A leading expert forecasts more outperformance from this surging ASX 200 gold stock.

Read more »

Person pointing at an increasing blue graph which represents a rising share price.
Share Gainers

Why Adriatic Metals, Catapult, Seek, and TechnologyOne shares are racing higher today

These shares are having a good time on hump day. But why?

Read more »

A woman's hand draws a stylised 'Top Ten' on a projected surface.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX shares returned to positive territory this Tuesday.

Read more »

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Share Gainers

Why Breville, Clarity, EOS, and TechnologyOne shares are racing higher today

These shares are having a strong session on Tuesday. But why?

Read more »

Person pretends to types on laptop drawn in sand.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors had a rough start to the week today.

Read more »

A person in a gorilla suit leaps really high holding a banana, nearly doing the splits.
Share Gainers

Up 1,238% in a year, why is this ASX gold stock surging again on Monday?

The ASX gold stock is now well into ten-bagger range and still rising fast today.

Read more »

A happy investor sits at his desk in front of his laptop and does the mexican wave with his arms to celebrate the returns from his ASX dividend shares
Share Gainers

Why EOS, Gorilla Gold, Lendlease, and OFX shares are charging higher today

These shares are starting the week on a positive note. But why?

Read more »