Chijet Motor Company, Inc. (NASDAQ: CJET) experienced a remarkable trading day on Thursday, with its stock price soaring by an impressive 16.5%. However, the excitement didn’t stop there.
By the early premarket hours on Friday, the stock’s momentum had surged even further, climbing an additional 40%. This dramatic increase pushed the stock price to $0.43, a significant rise from its starting point below $0.25 on Thursday.
Unprecedented Chijet Trading Volume
The surge in CJET stock price has been accompanied by an unusually high trading volume. Nearly 5 million shares were traded, a stark contrast to its average volume of just 350,000 shares.
Despite the lack of surface-level news to justify this spike, the high volume and price movement have sparked substantial interest and speculation among investors. This has led to widespread online chatter, with many predicting further gains when regular trading resumes.
Chijet Background and Recent Developments
Chijet Motor Co., Inc. is engaged in the development, production, and sale of both electric and gasoline vehicles. It offers a comprehensive range of services, including after-sales service and the export of new energy vehicles and parts.
Notably, on May 22, representatives from Chijet’s subsidiary, Shandong Baoya New Energy Vehicle Co., Ltd., met with the Investment Promotion Team from Fubao Street, Futian District, Shenzhen. The meeting aimed to explore opportunities for introducing Chijet’s related industries to Shenzhen, highlighting the city’s favorable business environment and financial support infrastructure.
During the meeting, Mr. Zhu Hong of the Investment Promotion Team emphasized Shenzhen’s commitment to nurturing potential enterprises, offering financial services, advanced technology, and talent support. Mr. Fan Dongchun, CFO of CJET, expressed optimism about future collaborations with financial institutions in Futian District and discussed plans for corporate mergers and acquisitions.
Conclusion
With Chijet Motor’s stock price demonstrating unprecedented afterhours activity and substantial interest from both retail investors and institutional bodies, the company is positioned for significant developments.
While some investors anticipate a potential dip due to profit-taking, others remain bullish, expecting continued growth. As CJET explores new opportunities in Shenzhen and strengthens its financial partnerships, the stock’s trajectory will be closely watched by market participants.
