Why Kandi Technologies Stock Soared Today

Shares of Chinese electric-vehicle maker Kandi Technologies (NASDAQ: KNDI) soared in trading on Wednesday afternoon, after the company announced that it will launch two of its vehicles in the U.S. next month.

Kandi's American depositary shares ended Wednesday's session at $9.32, up 140% from Tuesday's closing price.

Kandi America, the company's U.S. subsidiary, said on Wednesday afternoon that it will launch two models in the United States at a virtual event on Aug. 18. Interested customers will be able to put down a refundable $100 deposit at that time, the subsidiary's CEO, Johnny Tai, said. 

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Source Fool.com