Why the Syrah Resources (ASX:SYR) share price has more than doubled in 3 months // The Motley Fool Australia

On 7 October 2020, Syrah Resources Ltd (ASX: SYR) shares closed at 47 cents. By the close of market today, the Syrah share price was trading at $1.21, up 2.5% for the day and a whopping 157% since 7 October.

According to Syrah Resources, the company’s vision is to become the world’s leading supplier of quality graphite products, specifically active anode material (AAM).

Let’s take a closer look at what the company does and how it managed to double its share price over a three-month period.

What’s been driving the Syrah share price?

The Syrah share price hit a 52-week high in December 2020 when it popped to 95 cents. This achievement followed an announcement regarding the company’s Vidalia, Louisiana AAM production…