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A123 Systems (AONE +22.6%) soared in late trading today to close at $0.613, a day after...

A123 Systems (AONE +22.6%) soared in late trading today to close at $0.613, a day after announcing a financing deal with China's Wanxiang Group that one estimate valued at $0.55/share. The rally came even though Congressman Cliff Stearns (R-FL) expressed his opposition to the deal, due to concerns about the DOE-backed battery maker's IP being owned by a Chinese company.
Comments (6)
  • I guess if any company out there to save AONE .. I am all for it .. It will create/save jobs and markets here as well as China and rest of the world market. Other option is all losing proposition.
    9 Aug 2012, 10:13 PM Reply Like
  • Wanxiang is looking for synergy with AONE and its auto industry in China...Ironic , AONE has proven battery technology that works, who would pour 450M to losin business? .. Good luck to everyone who get in at such bargain basement price compared to its IPO price =)
    9 Aug 2012, 10:39 PM Reply Like
  • Recap of MOU with Wanxiang Co

     

    "Today's announcement is the first step toward solidifying a strategic agreement that we believe would remove the uncertainty regarding A123's financial situation," said David Vieau, CEO of A123. "A substantial capital investment from Wanxiang would not only provide financial stability to A123 as we continue to grow, but it would also align us with a large, successful global brand in the automotive and cleantech industries. Wanxiang has a successful track record of operating in the U.S. with significant employment and commitment to good corporate citizenship, and we expect that a strategic agreement with Wanxiang would help enhance our competitive position in the global marketplace, especially in China."
    9 Aug 2012, 10:51 PM Reply Like
  • i was right on the money when i said buy at .465 and i did buy
    10 Aug 2012, 09:12 AM Reply Like
  • There is massive volume increase Big Money is acculmulating AONE at bargain basement price.
    10 Aug 2012, 12:36 PM Reply Like
  • I think the 250M grant money fromUS Gov't to AONE came from US Debt ( borrowed from China).
    10 Aug 2012, 11:38 PM Reply Like
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