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.  

The company says it should be ready to begin mass-producing the Special 26650 battery by the second half of this year.

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Source Fool.com