Short-seller Who Exposed Nikola Motor Takes Aim at Chinese Electric Vehicle Stock Kandi
A prominent short-selling firm has alleged that Chinese electric-vehicle maker Kandi Technologies (NASDAQ: KNDI) falsified revenue by recording transfers to affiliated companies as sales.
Hindenburg Research, the short-seller whose allegations against electric-truck start-up Nikola (NASDAQ: NKLA) led to the departure of Nikola's founder and a federal investigation, released a report on Monday alleging that a large percentage of Kandi's reported sales have actually been transfers to affiliated companies.
If true, that would mean that Kandi has reported revenue that it did not actually generate.
Source Fool.com
