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Why CBAK Energy Stock Crashed Again on Tuesday

·2 min read
Why CBAK Energy Stock Crashed Again on Tuesday

Investors aren't happy about that -- at all -- and CBAK shares are down a staggering 14.4% as of 10 a.m. EST Tuesday morning. To sweeten the deal for the private investor that will be buying the new shares, CBAK will also award warrants to purchase an additional 3.8 million shares for $6.46 each, the price CBAK closed at on Monday evening. CBAK reserved the right to redeem the warrants for less than a penny apiece if its stock price hits $16.15 -- but the investor can easily avoid tripping this trigger by exercising its warrants after the stock hits $16.15, but before it has held at that level for "seven consecutive trading days."