CBAK Energy Technology (CBAT) Stock Rockets: Here’s Why

CBAK Energy Technologies CBAT Stock News

CBAK Energy Technology Inc (NASDAQ: CBAT) is running for the top in the market this morning, following a wave of clean energy bullishness that sent SPI Energy (NASDAQ: SPI) and Sunworks (NASDAQ: SUNW) on recent dramatic runs for the top.

While SPI’s run was triggered by news of an entrance into the EV market, SUNW seemed to run for no reason. Today, there’s no news on CBAT stock either. No press releases, no SEC filings. So, what’s the deal?

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Legislative Changes Are Sending Clean Energy Stocks Up

CBAK Energy Technology seems to be the most recent clean energy stock that’s benefiting from legislative changes. In fact, just yesterday, the United States House of Representatives passed a massive clean energy bill, one that bodes well for CBAT, SPI, SUNW, and others in the clean energy space. 

The bill will create new research programs for wind, solar, geothermal, and hydroelectric power production. Moreover, research programs surrounding the reduction of pollution from fossil fuels will begin. The bill will also help to improve energy efficiency among new construction and push the United States closer to a clean energy reality. 

What does this have to do with CBAT and others in the clean energy space? EVERYTHING.

As the United States and other developed nations around the world continue to push for a reduction of the global carbon footprint humans leave, clean energy companies are going to benefit in many ways:

  • Tax Breaks. First and foremost, as legislative changes continue, consumers are getting tax breaks for going green, and those tax breaks may grow as legislation continues in this direction. This will give consumers yet another reason to go green, expanding the audience pool for green energy companies.
  • Increasing Demand. As the world becomes more aware of the damage created by the burning of fossil fuels, demand for clean energy will only continue to rise.
  • Government Assistance. At the same time, government research programs will offer clean energy companies access to large amounts of goverment funding as well as build collaborations that will prove to be valuable in the long run.

The Bottom Line

Sure, we haven’t gotten any news out of CBAK Energy Technology directly this morning, but we didn’t need to. With all that’s going on in the clean energy space, investors are clammoring for opportunities in the sector.

CBAT stock is a low float play with plenty of potential. With technical signals lining up right and demand for investing opportunities in clean energy, the stock is in the right place at the right time, and investors are excited.

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