Shares of Visionary Holdings Inc. (GV) jumped 30% on Wednesday morning after the micro-cap company announced a partnership with PEGASUS International Group to establish a new energy vehicle battery swap market in Hong Kong.
GV is currently trading at $6.48, up $1.53 or 30.91%, on a heavy volume of 21 million shares, above average volume of 7.2 million, on the Nasdaq. The stock opened its trading at $7.32 after closing Tuesday at $4.95. The stock has traded between $1.00 and $9.60 in the past 52-week period.
According to the cooperation agreement reached by the two parties, Visionary will invest HK$420 million and plans to build 600 battery swap/charging stations in Hong Kong by 2029.
Among them, 10 stations will be built in 2025, and the construction of the first new energy vehicle battery swap station in Hong Kong will be launched in March 2025.
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