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.
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