Highpower Technology's Bearish (Then Bullish) Two-Day Seesaw
- Highpower Technology announces 1 million share private placement on Monday. Stock drops 27%.
- On Tuesday, HPJ announces it is a supplier to SONY Corporation. Stock reverses course and spikes higher.
- Despite these short-term developments and stock gyrations, Highpower's long-term fundamentals are solidly bullish.
- Raising my 2014 price target from $6.40 to $8.40, double Monday's closing price.