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

Article Stock Quotes (1) Comments (0)

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.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• J.P. Morgan (JPM) CEO Dimon Might Have Enough Votes to Stay Chairman - NY Times
• Jefferies Bumps PT on Home Depot (HD) to $91
• KeyBank Upgrades MDC Holdings (MDC); Cuts PulteGroup (PHM) & Ryland Group (RYL)

Create E-mail Alert Related Categories

Analyst Comments, Insiders' Blog, Momentum Movers

Related Entities

Deutsche Bank, Needham & Company

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?