ASX stock of the day: Talga (ASX:TLG) shares rocket 23%

Talga Group Ltd (ASX: TLG) shares are on fire today. At the time of writing, the Talga share price is up a staggering 22.79% to $1.67 after closing at $1.36 last week and opening at $1.51 this morning. In earlier trade, the company’s shares rallied by almost 32% to $1.79 before retreating to their current level. 

Until today, Talga had not been having a very successful 2021. Year to date, Talga shares had fallen by more than 25% at Friday’s closing price, and even after today’s move, remain down by around 10% in 2021 so far. However, Talga is up by around 36% since 31 March. Over the past 12 months, the company has also done extremely well, up by more than almost 380%.

So what is Talga? And why is this company worth almost a…