CBAK Energy (CBAT) Perseveres to Trade Over $10 Value

As the hungry EV market demands more and more lithium-ion battery cells CBAK Energy (NASDAQ: CBAT) tries to produce as many suitable products as possible while its stock once attempted to trade over $11 in November 2020.

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Speculators shorted CBAT shares later in December then daily average volume went down to as low as 12 million units. However, today its seems to grow over the $10 mark and even soar beyond $20 soon due to the EV boom.

Investors should bear in their minds that CBAT rose more than 140% last month. Moreover, for the past six months, it rocketed 1,112% from as low as $0.83 to today’s $9.00 value. One may surely say the $10 mark is just an easy target as going to a grocery store nearby or throwing a ball to your friend on the beach.

Jack Dawkins

Finance and Tech Contributor

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