Kandi surging for second day on electric car expansion plan


Kandi Technologies (KNDI) +2.8% premarket on top of yesterday's 16% surge after the Chinese electric car rental company said is profitable and that it plans to expand to the country’s biggest cities.

KNDI is selecting local partners in Shanghai, Beijing and Chengdu, Chairman Hu Xiaoming said.

However, shares could be weighed later in the day by a WantChinaTimes article that says China's promotion for new energy cars is not going well.

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Comments (1)
  • Cassina Tarsia
    , contributor
    Comments (662) | Send Message
     
    I think that not only is Kandi rising with its own good news, but I think that it is also being lifted on the coattails of Tesla, which has itself been taking off like one of Elon Musk's rockets. There seems to be a definite correlation between the two stocks ... when one goes up you can see a corresponding rise in the other - at least most of the time. Seems to be the case today and yesterday.
    25 Feb 2014, 12:09 PM Reply Like
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