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Why Kandi Stock Got Crushed Today

TheMotleyFool

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Kandi Technologies (NASDAQ: KNDI) got Kandi-crushed in Tuesday trading, closing the day down 22.7%.

The Chinese electric car-maker has a market capitalization of just $328 million, and just announced plans to sell $60 million worth of stock and warrants (to buy stock) in a private placement -- enough to dilute existing shareholders out of nearly 15% of their ownership stake.

Image source: Getty Images.

Source Fool.com

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