The price of Ener1, Inc. (PINK:HEVV) stock seems to have taken a turn with the start of the new year.
Yesterday, HEVV closed up 12.79% at $0.097 with approximately a million shares traded in the session.
No more than a year ago, HEVV was quoted on the NASDAQ and its stock traded at close to $4. Then, the company started showing signs of struggling financially, and the stock price began dropping, closing at $0.0474 at the very end of 2011.[BANNER]
HEVV was delisted because it failed to file its financial reports on time. Even now the latest available 10-Q is for the quarter ended March 31, 2011.
It’s not quite clear what’s driving the price up right now. The electric car is not an idea that is likely to fade any time soon. If anything, it’s likely the sector grows a lot in the foreseeable future, and this could be encouraging for investors.
Still, there is no indication whether or when HEVV could actually turn profitable. And the fact that the company is yet to file its financial reports isn’t too promising. Neither the short-term, nor the long-term future of HEVV is certain at this point.
