Why CBAK Energy Stock Just Popped

Why CBAK Energy Stock Just Popped

Shares of Chinese electric car battery maker CBAK Energy Technology (NASDAQ: CBAT) rushed ahead more than 19% in early trading Monday, before pausing and retracing in the afternoon. As of 1:35 p.m. EST, CBAT shares remain up a respectable 3.2%. In a press release this morning, CBAK announced that it has signed "a one-year strategic cooperation framework agreement" with Chinese light electric truck manufacturer Chengdu Raja New Energy Automotive Technology.