Why Kandi Technologies' Stock Is Rising Today
Shares of Chinese electric-vehicle maker Kandi Technologies (NASDAQ: KNDI) were trading higher on Wednesday after upbeat June sales reports from other companies selling electric vehicles in China, including giant Tesla (NASDAQ: TSLA). As of 1:45 p.m. EDT, Kandi's American depositary shares were trading up about 9.4% from Tuesday's closing price. As with many other Chinese companies, Kandi's sales took a big hit in the first quarter as China imposed strict stay-at-home orders amid the coronavirus pandemic.
