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Watch For A Sharp Drop In China Bak Battery
- ChinaBak recently soared from below $2.50 to $5.00 “news” that LG was entering the China EV market and on subsequent EV subsidy news from China.
- But ChinaBak is not even currently in the EV business and will likely derive zero benefit. Day traders are simply playing a dangerous game of greater fool.
- Creditors recently began seizing the assets of the insolvent ChinaBak and key management has already resigned. The company has been the subject of repeated delisting notices.
- ChinaBak has now lost all revenues and is saddled by over $200 million in near term debts. There is almost nothing left of the company.
- In the past, ChinaBak soared 65% on entirely fake China headlines, only to crash within days.
- The End Of The Road For Insolvent China BAK