Why CBAK Energy Stock Soared 16% on Friday
Shares of CBAK Energy Technology (NASDAQ: CBAT) had jumped an astounding 16.2% by 11:35 a.m. EST on Friday after the Chinese battery maker announced the invention of a new Special 26650 battery designed for use in ultra-low temperatures. As CBAK explained, the new battery is a variation of its current 26650 lithium rechargeable battery. Currently in "trial production," the Special 26650 battery is said to be exhibiting satisfactory test results so far.