Battery stocks stage sharp rebound after two years of slump

Battery-related stocks, which had been on a downward trend for the past two years, have started a clear rebound this month, analysts said Friday. They noted that the sector’s earnings and stock prices are likely to continue their upward movement, supported by improving profits and favorable supply-demand factors. After steadily declining since July 2023, battery stocks began to recover in May this year and have shown explosive gains this month. According to the Korea Exchange, EcoPro, the leading battery stock, has risen more than 70 percent on the Kosdaq this month. During the same period, POSCO Future M also gained over 40 percent on the KOSPI. Battery-related stocks maintained their strong performance, Friday. While EcoPro rose 8.34 percent on the Kosdaq, SK Innovation, LG Energy Solution and Samsung SDI increased 8.27 percent, 9.94 percent and 13.57 percent on the KOSPI, respectively. The Kosdaq rose 11.05 points, or 1.27 percent, to close at 883.08, while the KOSPI gained 96.03 points, or 2.5 percent, to close at 3,941.59. Battery stocks had seen a rapid accumulation of short positioWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times