China Recycling Energy Corporation (NASDAQ: CREG) is having a great day in the market today. However, if you’re looking for news, you’re going to be disappointed. The company hasn’t issued any in quite some time.
Nonetheless, there’s a very good reason for the gains. Moreover, it’s not just CREG that’s climbing, several Chinese stocks are making a run for the top. Today, we’ll talk about:
- What’s going on;
- what we’re seeing from CREG stock as a result; and
- what we’ll be watching for ahead.
CREG Climbs On Trump Announcement
As mentioned above, China Recycling Energy Corporation is having a great day in the market today. However, there is no news that has been issued by the company. So, what’s the deal?
Well, the gains in CREG have to do with the Trump Administration. In a statement made this morning, President Trump announced that he will postpone the closely-watched tarrif deadline.
The deadline, originally set for March 1st, was a deadline for the United States and China to come to a trade agreement. If the deadline was missed, additional tariffs would be placed on Chinese goods. Nonetheless, with the deadline postponed, the threat of a deepening trade war and painful economic outcomes is starting to die down.
This is a great thing for CREG and just about all Chinese stocks. At the end of the day, the trade war between China and the United States has already started to lead to signs of economic pain in China.
If a trade agreement between the two world superpowers were to come to fruition, we would likely see economic improvement in both regions, and around the world. Considering this, companies within the Chinese region that were seeing declines as a result of trade war concerns, are starting to see gains!
What We’re Seeing From The Stock
While China Recycling Energy Corporation hasn’t released any news of its own, the macroeconomic news that is taking place is great for the company and many others. As a result, we’re seeing a surge in value in this stock and others on the Chinese market.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:19), CREG is trading at $1.12 per share after a gain of $0.077 per share or 7.39% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on both CREG, and the Chinese economy. In particular, we’re interested in following the news surrounding a potential trade agreement between the United States and China and how it would affect the company and others in the Chinese market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!