Market Chatter: China BAK Battery, Kandi Tech Both Surge On Electric Car News

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Shares of China BAK Battery ( CBAK ) are up 35% at $1.31, pulling back from a day top of $1.63, after Kandi Tech ( KNDI ) announced before the market open that the Chinese government has given approval for the company's electric sedan, co-developed with Geely Auto. KNDI is up 50% at $5.85, but it too is off a day high - in its case a day and new year high of $6.95

A possible reason for the surge - China BAK may supply batteries for the car, according to StreetInsider.

CBAK has a year spread of $0.59 - $3.55.

KNDI shares are up 51% at $5.93, down from a new 52-week top of $6.94 touched earlier in the session.



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This article appears in: Investing , Commodities

Referenced Stocks: CBAK , KNDI

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