Maxwell soars amid Tesla-related buzz

|About: Maxwell Technologies, Inc. (MXWL)|By:, SA News Editor

Maxwell (MXWL +15.3%) soared to new 52-week highs today on volume more than 5x its daily average.

No news has hit the wires to explain the move, which comes two days after Tesla provided details for its planned lithium-ion battery gigafactory.

Hopes that Tesla will use Maxwell's ultracapacitors in its EVs have been around for a while. Elon Musk has suggested ultracapacitors, which can recharge in a small fraction of the time needed by lithium-ion cells, could yield an energy storage breakthrough. But he also admits major improvements in energy density are needed before they can replace lithium-ion.