Why CBAK Energy Technology Stock Continued Its Rebound on Friday
Shares of Chinese lithium rechargeable battery maker CBAK Energy Technology (NASDAQ: CBAT) were on the rise again Friday, up by as much as 17.7% in early trading, and holding onto an 8.2% gain as of 12:08 p.m. EST. It was the stock's second consecutive day of big gains after two straight days of even bigger losses.
There doesn't appear to be any "news" driving shares higher Friday -- no analyst upgrades, no excited press releases from management. Rather, it appears traders are taking advantage of CBAK Energy's now-lower share price to buy in.
And if you think the company has a future, that price is considerably better than what you would have been asked to pay just a week ago. CBAK Energy stock is trading about 28% below where its shares closed last Friday.
Source Fool.com
