A123 Systems (AONE) Continues Lower; CEO Vieau Bullish on Ability to Raise Funds if 'Required'

March 28, 2012 10:29 AM EDT
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A123 Systems, Inc. (Nasdaq: AONE) is continuing to get hit Wednesday following a $55 million battery buyback effort announced Monday for units manufactured at its Livonia, MI, facility. Shares are 24 percent lower since the close last Friday.

Today, CEO David Vieau issued comments to Bloomberg via email, saying in part he sees A123 "being successful in additional fundraising is required" and "customer response to battery deficit has been 'supportive.'"

Earlier Wednesday, Deutsche Bank commented on A123 saying confidence in its ability to raise financing was "fading." Needham & Company also issued a note following Monday's announcement.

Shares are 6.5 percent lower on the session.

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