Fridays are usually quite lazy on the stock markets- usually before Thanksgiving. Most of the traders are trying to recover from their stupor induced by Tryptophan so that they can place a few more orders before the holidays. This has led to rising renewable energy stocks to be losing ground even when they are quite rapid. The shares of PLUG stock and ENPH stock are now hanging by a thread at 2.2% and 3.5% after starting off at 6.2% and 7.1%. CBAT stocks, on the other hand, have been showing a lot more promise- they are up by 16.6% as they garner a major deal with Kandi Technologies from China.
What Is the Crisis With the PLUG Stock?
The shares of the PLUG stock have risen by around 730% for this year- which has led many investors to wonder if there is any space further to go. But CBAT stocks are proof that there are still some more legs to go. Just this morning, the company declared a partnership with the Chinese company that would help it design a new EV. One of the biggest points of this deal- Kandi Technologies is going to be buying close to $120 million worth of battery packs from the CBAT stock.
The prospect of CBAT stock is one explanation as to why they have been functioning so well. Interestingly, their partnership with a Chinese company may very well signify to the other investors that the PLUG stock might also be up for grabs. It would be a major boom in the renewable energy sector if more and more partnerships, mergers, and acquisitions were to be forged. If that happens, the run that CBAT has had currently might be the last spike of this week- but definitely the first of many more spikes to come.
