The shares of U Power Ltd. UCAR continued to soar Friday, as it rose 86.0% in premarket trading, and were the second-most actively ahead of the open with 9.5 million shares traded. On Thursday, the day after it closed at its lowest price of $3.11, the stock rocketed 144.1% on volume of 123.7 million shares, after the China-based electric vehicle (EV) battery company announced a cooperation agreement with Japan-based EV maker Quantum Solutions Co. Ltd. JP:2338 to develop initiatives for research and development of new energy vehicles, as well as EV charging and battery-swapping operations. The stock went public on April 20, closed that day at $43.18, or more than seven-times the initial public offering (IPO) price of $6. On April 21, it closed at $7.83.
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