It took Kandi Technologies Corp. (NASDAQ:KNDI) stock more than a week to prove that it is a delicious candy.
Yesterday, KNDI shares were demanded like limited edition items put up for sale.
Investors finally appreciated the price increase on the latest company’s news about KNDI’s first battery charging station.
KNDI shares closed the market at $3.64, adding 12.35% to their value. The almost six times the average volume confirmed investors’ willingness to support the upward direction of KNDI stock.
Seems that the explosive debut of Tesla Motors Inc (TSLA) on the NASDAQ at the end of last month absorbed investors’ attention towards newly traded shares and maybe they neglected the investment opportunities offered by the candy KNDI stock.
At present, KNDI shares performance shows that, being almost half the way up to their 52-week high, they have potential to rise further.
The announced by KNDI battery charging station is part of the company’s strategy to “speed up the commercialization of pure Electric Vehicles (EVs) in China”. As announced, the project will be funded by China’s largest electric power transmission and distribution company, State Grid Corporation of China (SGCC).[BANNER]
Not only the expected implementation of the above project at the end of the year was the reason for KNDI stock rush. The latest company financials are quite convincing that KNDI has growth potential. For the first quarter of this year, KNDI reports:
- Increased 106.1% revenue as compared to the same period in 2009
- Increased 88.7% gross profit as compared to the same period in 2009
- Total assets of $73 M and total liabilities of $49 M
The operating performance of the Company for the first three months of the year reflected also significantly improved net loss of $177 K.
