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Summary
- The EV battery firm’s stock surged over 38 per cent on Friday, February 5, with a one-day volume of 36 million.
- The software stock has delivered an astonishing one-year return of 4528 per cent.
- The company has been exploring the recreational vehicle market to generate more revenues from its tech-based recycling solutions.
Stocks of Extreme Vehicle Battery Technologies Corp (CSE: ACDC) rose more than 38 per cent on Friday, February 5. Nearly 36 million outstanding shares were traded on the Canadian Stock Exchange (CSE).
The technology-based battery producer operates in the electric vehicle and cryptocurrency industries. Its stocks have been getting momentum on the back of the ongoing clean vehicle rally.
Let us have a glance at this trending battery stock’s market developments:
Extreme Vehicle Battery Technologies Corp (CSE: ACDC)
The Vancouver-based tech corporation manages two segments, namely blockchain and EV battery technology. The firm offers futuristic battery solutions to emerging electric vehicle manufacturers.
Through its technology, the company is also providing used battery recycling solutions. The company also offers cryptocurrency services for government and corporate clients.
The software stock has almost 313.65 million listed shares outstanding on the CSE, with an active 30-day average volume that has zoomed to nearly 13.76 million shares. The stock has soared more than 4528 per cent in one year. It has a current stock price of C$ 0.27, with a market cap of C$ 84.7 million.
Image Source: Kalkine Group @2020
On January 18, 2021, Extreme Vehicle Battery Technologies offered a non-brokered private placement to raise nearly C$ 2.5 million.
The company unveiled its Home Smart WallTM, Android and iOS apps, which have been created to outshine Tesla's Powerwall, as per the company’s filing on the CSE on January 6. Its CEO Bryson Goodwin stated that this app would remotely supervise the battery systems.
The company is also exploring the recreational vehicle (RV) segment of the automobile industry, which has been gradually emerging in North America. In its press release, the company stated that the RV market achieved US$51 billion in revenue during 2019 and is estimated to touch US$ 77 billion by 2026.
