Magnis Energy Technologies Ltd (ASX: MNS) has responded to the ASX query related to the change in price & volume of MNS securities in recent days.
In response to the ASX query to provide explanation to the recent trading, MNS stated that it has found that some of the top lithium-ion battery cell manufacturers & potential material suppliers are feeling significant rise in their share prices. With this in mind, that there is a positive correlation, given the company is engaged in planned lithium-ion cell manufacturing plants along with graphite anode material.
Also, one of the company’s director M. Stanley Whittingham post receiving award of the 2019 Nobel Laureate in Chemistry, for his contribution towards lithium-ion batteries would be appointed to head an electric vehicle task force for NY State.
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