Market Overview

Kandi Technologies Up 12% On Strong Q2 Sales Report

Related KNDI
GeoInvesting: Kandi Technologies 'Could Be In Serious Jeopardy'
Mid-Day Market Update: Conatus Jumps Following Announcement of Licensing Deal With Novartis; Sucampo 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)

View Comments and Join the Discussion!