It’s looking like Tuesday’s stock market will be a confusing one for lithium battery investors, as stocks of all stripes move in differing directions despite little “new” news.
In 12:10 p.m. EDT trading, for instance, we see shares of Chinese lithium battery manufacturer CBAK Energy Technology (NASDAQ:CBAT) giving up an early 20% gain to settle down up just 2.1%. Things don’t get much clearer further up the supply chain, where Piedmont Lithium (NASDAQ:PLL) is up 22% and holding onto its gains, but Lithium Americas (NYSE:LAC) is losing 11.7%.
Let’s see if we can make some sense of this mess.
We’ll begin with CBAK Energy, a small-cap maker of batteries in China that’s so under the radar that we haven’t written about it here at The Motley Fool even once — but that is getting some attention here in the wake of Tesla