CBAK Energy Technology (NASDAQ:CBAT) is seeing shares of CBAT stock head higher on Friday despite no new news from the company.
The increase in price for CBAT stock comes alongside an increase in trading. The company has seen roughly 50 million shares change hands as of this writing. That’s a massive increase over its daily average trading volume of 8.91 million shares.
Here’s what potential investors in CBAT stock need to know about CBAK Energy Technology.
- CBAK Energy Technology is a Chinese company founded in 2001.
- Its focus is on research and development, manufacture, and sales of high-power lithium batteries.
- This has it offering a wide variety of products for customers to make use of.
- That ranges to batteries for electric vehicles, as well as backup energy storage.
- Its EV battery offerings include those made for light EVs, normal EVs, and electric buses.
- The company joined the public market in 2006 when it listed shares of CBAT stock on the Nasdaq.
- Yunfei Li is the leader of the company serving in the chairman, president, and CEO roles since 2016.
CBAK Energy Technology isn’t the only EV-related company that saw its shares soar today. Niu Technologies (NASDAQ:NIU), another Chinese company and maker of two-wheeled EVs, also got a boost to its stock with heavy trading today. The increase likely has to due with current projections concerning the U.S. presidential elections.
CBAT stock was up 61.2% as of Friday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
