Market Overview

Kandi Technologies Up 12% On Strong Q2 Sales Report

Related KNDI
Market Wrap For Friday, August 29: Gas Prices Lower Into Holiday Weekend Despite Crude Rally
Splunk Jumps On Strong Results; Kandi Technologies Shares Slide

Kandi Technologies Group (NASDAQ: KNDI) shares shot up more than 12 percent Monday on a strong sales report for its branded electric vehicles.

The China-based company sold 4,114 of the Kandi brand vehicles in the second quarter, a 238 percent increase from 1,215 a year earlier.

The vehicles are manufactured in a 50-50 joint venture with Geely Automobile's Shanghai Maple Guorun unit.

Short interest accounts for 6.1 million of Kandi's 40.7 million shares outstanding.

Kandi, which expects to post second-quarter results on August 11, saw its shares traded recently at $16.55, up 12.43 percent.

Posted-In: News Retail Sales Movers

 

Related Articles (KNDI)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters