Why Kandi Technologies Stock Is Surging Again
Shares of Chinese electric-vehicle maker Kandi Technologies (NASDAQ: KNDI) opened sharply higher on Thursday, continuing a rally that began on Wednesday afternoon after the company announced plans to begin U.S. sales next month.
As of 10 a.m. EDT, Kandi's American depositary shares were up about 23.7% from Wednesday's closing price, and up almost 200% from Tuesday's close.
The company's U.S. subsidiary, Kandi America, said on Wednesday that it will launch two battery-electric cars in the United States. The cars' official launch will take place during a virtual event on Aug. 18, at which time interested customers will be invited to make a (refundable) $100 deposit.
Source Fool.com
