Electrovaya (EFL:TSX) exploded 48% on 1.5 million shares traded to close at $1.41 per share, near a 52-week high, Thursday.
The developer and manufacturer of proprietary lithium batteries and, specifically, Lithium Ion Super Polymer® batteries. Alexander Smith, Head of Market Research, wrote up Electrovaya, outlining its potential in a late-November 2015 article, on a day its shares traded between $0.61 and $0.60. Below is a short excerpt:
“The timing of Electrovaya’s recent breakthrough and increase in revenues could go a long way as weary resource and conventional energy investors look to diversify. Electrovaya’s 4th quarter results are on deck and will likely impress, given the company’s $27 million contract reported on September 1st. Expect renewable energy stories to get more play from new school analysts and a wider investment audience in the coming quarters.”
Here we are, a few quarters later and Electrovaya’s shares are up well over 100%. Click here to read the entire article titled Electrovaya: emerging lithium battery storage company.
Electrovaya rallies on lithium ion battery deal
The momentum in Electrovaya’s shares today were due to an announcement that it signed a Multiyear Service Agreement (MSA) with a US based Fortune 1000 OEM to supply Lithium Ion Battery Modules, Battery Management Systems and related services.
These types of press release involving lithium and lithium batteries have drawn huge attention from the retail investor in North America over the past 6 months.
According to the company, “The Agreement is expected to generate revenues of up to $80 million over the next three years. The revenues from this Agreement starts in Q2 CY2016, growing through rest of CY2016 and accelerates in 2017.”
source: http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=468521151…
In preparation for the bull market in lithium and mining stocks we published an EBook in early 2015, where we reveal 50 leaders who took small-cap stocks to stunning multimillion and, in some cases, billion dollar buyouts. The companies these leaders run today are described in this one of a kind rolodex of some of the top entrepreneurs and business minds in the small-cap mining, technology and energy sectors.
Electrovaya jumps in May Stock Challenge
Pinnacle member ‘Jamen Ford‘ selected Electrovaya for May’s Stock Challenge and saw his combined average return soar 24.21%.
Despite the move higher, Jamen Ford is not in the Top 50; this highlights how volatile Electrovaya has been in the past 30 days.
Everyone is chasing member ‘flipzrule01‘ and his 58.55% return. There are only three days left in May’s Stock Challenge. Get your picks in for June, by clicking here now.
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