Lithium-ion battery maker A123 Systems Inc. (NASDAQ: AONE) posted a new 52-week low of $0.96/share earlier today. The battery maker was hit last week with an estimated $55 million recall of modules and battery packs installed in luxury electric vehicles manufactured by Fisker Automotive.
A123 invested $13 million in Fisker in January 2010, but did not participate in Fisker’s current venture round in which the auto maker has so far garnered $392 million of a proposed total of $500 million in new financing. Fisker has received more than $500 million in federal loans to restart its assembly line in Delaware.
The combination of A123’s shaky financial position and investors getting reminded of the near-death experience of Fisker itself is more than the stock could withstand today. Shares are trading down -8.9% at $1.01 in a 52-week range of $0.96-$6.39. More than 8.2 million shares have traded hands today.
Credit card companies are handing out rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
