China BAK GOT
China BAK Battery Inc. rallied the most in more than five years in trading Nasdaq, on speculation that the maker of rechargeable batteries for portable devices was taken as a supplier for Google Inc is a smart phone.
Shares of Shenzhen, China-based company jumped A1175 ， A1185 the most in the Russell 2000 Index, increased 63 percent to $ 3.64 from 4 pm in New York for the biggest advance since June 2004.
“The reputation is the battery had been selected by Google,” Mark Tobin, an analyst with Roth Capital Partners LLC, said in an interview. “If true, this is something in terms of revenue probably further down the road.”
China BAK, which supplies batteries for companies such as First Automobile Group Co, was unprofitable for the past two years. The stock has more than doubled this year, trading at 91 hours 2010 earnings estimate Tobin, according to data compiled by Bloomberg. The USX China Index, a benchmark for US-listed Chinese companies, is up 62 percent in 2009.
Google may start marketing its own smart phone of the year, the New York Times reported Dec. 13. The company invited journalists to an event on Jan. 5 to discuss his phone operating system, according to the report entitled “The bits of” blog today.
Tobin, who rates China BAK “sale”, said the stock was apple PowerBook G4 15 inch battery，A1045expensive and was not aware that the company wanted Google as a customer.
A call to Tracy Lee, spokesman for the company after business hours in China, was not answered. Katie Watson, a representative of Google, declined comment.