China Automotive Systems Soaring 16% On Heavy Volume
China Automotive Systems, Inc. (NASDAQ: CAAS) shares are soaring on heavy volume this afternoon, despite the lack of news on the stock.
At last check, shares of China Automotive Systems were up 99 cents to $8.50, a gain of 13.2% on 275,000 shares. The average daily volume is just over 300,000 shares.
China Automotive Systems, Inc., through its interests in Sino-foreign joint ventures, engages in the manufacture and sale of power steering systems and other component parts for the automotive industry in the Peoples Republic of China.
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