Why the Galaxy (ASX:GXY) share price rocketed 55% higher in April

The Galaxy Resources Limited (ASX: GXY) share price was one of the best performers on the All Ordinaries index in April.

Over the 30 days, the lithium producer’s shares recorded an enormous 55% gain.

This stretched the 12-month gain by the Galaxy share price to a remarkable 450%.

Why did the Galaxy share price smash the market in April?

There were a couple of catalysts for the strong rise by the Galaxy share price in April.

The first was a further increase in lithium prices thanks to strong demand from electric vehicle manufacturers and concerns about supply.

But perhaps the main reason for the rise in the Galaxy share price was the announcement of a mega-merger with fellow lithium producer Orocobre Limited (ASX: ORE).

For the…