NEW YORK (TheStreet) -- China Bak Battery (CBAK) surged to a one-year high of $4.78 as of 1:15 p.m. on Tuesday as the company, which manufactures lithium-based battery cells, soared in sympathy with its peer companies.
Companies such as Plug Power (PLUG), FuelCell Energy (FCEL) and Ballard Power Systems (BLDP) have repeatedly soared to one-year highs since last week in the wake of Plug Power's deal with Wal-Mart (WMT) to provide more than 1,700 hydrogen fuel cell solutions to power electric lift truck fleets at six of Wal-Mart's North American distribution centers.
As the demand for clean energy has increased, battery-related stocks have improved. China Bak Battery has participated in this surge, as the stock has soared more than 80% in 2014.
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