Battery Stock Soars Following Major Announcement

Battery Stock Soars Following Major Announcement

Battery Stock Soars Following Major Announcement By: Tomas Ronolski - News

Wednesday, May 22, 2024

A certain battery company is really stealing the show so far during Wednesday’s session following an announcement that the company has completed its first production trial of unit cells using the full capabilities of the Casting and Unit Cell Assembly at the Customer Qualification Plant.

While that announcement was extremely technical in nature, one thing is crystal clear – traders love it. Shares of FREYR Battery Inc. (NYSE:FREY) soared following the press release, reaching all the way up to $2.63/share (+33.50%) at the early session high. It sure has been a wild ride for this small cap!

FREYR Battery is an emerging producer of clean battery solutions for a better planet. It designs and manufactures high-density and cost-competitive lithium-ion batteries with a reduced carbon footprint for the global markets for electric mobility, stationary energy storage, marine and aviation applications.

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