Can Kandi Stock Keep Going After Last Week's 60% Pop?
A Chinese maker of electric cars is stepping on the gas -- figuratively speaking, of course. Kandi Technologies (NASDAQ: KNDI) was one of last week's biggest winners, soaring 60% as investors flocked to the volatile stock. Shares of Kandi have moved higher for 10 consecutive trading days, for a total rise of 88%.
There was no major news out of the company outside of a press release issued near the end of the prior week, detailing a strategic agreement with China's Hangzhou Vocational & Technical College to institutionalize renewable-energy research and develop an outreach strategy to promote renewable-energy vehicles. There have also been no major analyst moves during the stock's heady two-week run. Research Driven Investing did initiate a research report on Kandi on Thursday, but it tapped the stock with a "neutral" rating, and the coverage came eight days into the monster rally.
Image source: Kandi.
Source: Fool.com
