Kandi today soared to 15.5% as of 12:20pm. This is because of an article released announcing their goal of expanding to Beijing and Shanghai. This is great news for the followers of Kandi. We have know this was the plan so it is not all new news, but it is good to hear. I believe this will settle back down to somewhere in the 14’s later this week but it has established higher highs and higher lows. Good news for Kandi longs. I had a PT of $15 on this stock and I believe the next leg up will take out $16. Great company!
Kandi is a very cool company that I came across a few months ago. The idea of this company is to set up car “Vending Machines” all over cities in China to rent out cars to people. The reason they have such great potential is because China is trying to cut down on pollution and emission and Kandi is subsidized by the Chinese government. They have perfected their electric vehicles to got 170 miles per trip and can be returned to any garage the person chooses where they will exchange batteries and charge the old battery. My short term PT for this stock is $15.50 but think the sky is the limit for it in the future.