This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Lithium Battery Bulls Are Juiced on Valence

(Lithium battery makers 2011 forecast article updated with earnings update from Johnson Controls)

NEW YORK ( TheStreet) -- According to a poll on current views of the outperforming lithium battery stocks of last year, users of TheStreet remain particularly bullish about Valence (VLNC) in 2011.

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

At the end of 2010, we asked investors, "Which of the 2010 top-performing lithium battery stocks are you still bullish on for 2011?"

The greatest proportion of respondents, 32.3%, said they were most bullish on Valence. Trailing Valence was Johnson Controls (JCI - Get Report), which garnered 28.3% of the votes.

Polypore (PPO - Get Report) received 21.2% of the votes, and Sociedad Quimica Y Minera De Chile (SQM - Get Report) received 11.5% of them. Canada-based Electrovaya picked up 6.7% of the votes.

Now, in a recent 8K filing, Valence says it has entered a loan amendment agreement with lender iStar Tara regarding an original $20 million loan that was extended to the former on Jul. 13, 2005.

Under the agreement, the maturity date of the loan has been extended to Mar. 10, 2012 from Feb. 13, 2011.

The outstanding principal balance on the loan was $14 million as of Jan. 11, 2011.

Also under the agreement, the company will continue to make monthly principal payments of $1 million. In addition, Valence issued a warrant to iStar to purchase up to 100,000 shares of the company's common stock at an exercise price of $1.45 per share on or before Jan. 11, 2014, in connection with the agreement.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
VLNC $0.65 0.00%
JCI $49.08 0.00%
PPO $58.99 0.00%
SQM $17.95 0.00%
AAPL $123.25 0.00%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs