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KNDI - Why Kandi Technologies Stock Jumped High Then Stumbled Today
Kandi Technologies Group Inc.
Shares of Chinese electric-car maker Kandi Technologies (NASDAQ: KNDI) jumped nearly 18% in early trading on NASDAQ Thursday before retracing to something more like a 4% gain as of 10:30 a.m. EST.
Investors reacted positively to the company's announcement that "one of its subsidiaries" will sell 3,000 model K23 electric cars to "an operating company in its ride-sharing alliance."