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Summary
- Braille Energy’s stock is skyrocketing today, with a surge of over 131 per cent in the market opening hour.
- The rally has come in the wake of its latest 12V lithium batteries agreement with Tesla affiliate Unplugged Performance Inc.
- Shares of the clean battery manufacturer have exploded with a massive rise of 1270 per cent year-to-date.
Stocks of Braille Energy Systems Inc. (TSXV:BES) almost 20 per cent as the EV battery manufacturer yesterday announced a supply deal with Tesla’s (TSLA:US or NASDAQ: TSLA) Unplugged Performance Inc. to deliver 12V Lithium Batteries.
The stock opened at C$ 1.69 per share on Tuesday, March 2, an increase of 131.50 per cent against its previous close of C$ 0.73 per piece, with an opening hour volume of more than 6.30 million.
The Ottawa-based company has been replacing its lead-acid batteries with lithium batteries. It focuses on 12 Volt EV batteries. On the back of the above agreement with Tesla’s trademark company, its stock could propel its ongoing rally.
Let us have a look at this battery producer’s stock performance:
Braille Energy Systems Inc. (TSXV:BES)
Braille develops diversified batteries and retails power storage systems to the automotive industries. It focuses on the ultralight battery system. The stock is currently at C$ 1.37 per common share.
On February 10, its share price rose more than 250 per cent when the firm stated in its filing that it is all set to replace its lead batteries with lithium-ion batteries. Following this announcement, Braille Energy believes to accelerate its collaboration with the EV market.
It has recorded an astonishing one-year return of 9,633 per cent. It holds a 30-day average trading volume of 3.9 million shares. The green stock has yielded 1270 per cent growth this year.
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It could surpass its 52-week high of C$ 1.82 per share this week as investors have been buying it heavily. The junior energy firm has a market cap of C$ 65.43 million.
The microcap firm’s shares have a return on equity of over 39 per cent. Its price-to-cashflow ratio has zoomed as much as 265. The growth stock has gained 13,600 per cent against its 52-week low of C$ 0.01 per share.
