KNDI Stock Can Hardly Be Considered an EV Play investorplace.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investorplace.com Daily Mail and Mail on Sunday newspapers.
3 Electric Vehicle Stocks to Avoid in April
KNDI – The electric vehicle (EV) industry has been red-hot since last year. This has caused an influx of several new players in the EV space whose stocks, driven solely by investors optimism, have gained as much as the established players. But, in the absence of adequate fundamentals, the prospects of many of these companies look uncertain. This, coupled with a global semiconductor shortage and investors’ rotation away from expensive stocks to quality bargains, does not bode well for the industry. Hence, we think fundamentally weak stocks Kandi Technologies Group (KNDI), Beam Global (BEEM), and Ayro (AYRO) are best avoided this month. Let’s take a closer look at these names.
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What happened
Shares of
Kandi Technologies Group (NASDAQ:KNDI) dipped 11.7% in March, according to data from S&P Global Market Intelligence. The Chinese electric vehicle (EV) company announced new product lines in the month, but it sold off in conjunction with a broader pullback of valuations for companies in the EV space.
EV stocks have posted incredible gains in recent years, and some companies have been rapidly scaling their businesses, but market enthusiasm for the space wavered in March. Kandi published its full-year results near the end of the month, with sales and earnings falling short of Wall Street s targets, but the company s share price ticked up following the release thanks to encouraging guidance.
Small-Cap Energy Sectors With Big Upside safehaven.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from safehaven.com Daily Mail and Mail on Sunday newspapers.
Kandi America Expands Product Categories, Launches NEV Models
GARLAND, Texas (BUSINESS WIRE) Kandi America, the U.S. subsidiary of Kandi Technologies Group Inc. (NASDAQ GS: KNDI), an international automotive and powersports manufacturer, today announced the strategic expansion of its automotive business to fulfill the largely untapped Neighborhood Electric Vehicle (NEV) market. Now available for order and delivery through select dealerships, the Kandi NEV K23 and NEV K27 models have been certified to meet Federal Motor Vehicle Safety Standards (FMVSS) 500 requirements. Increasing demand in recent years has resulted in steady growth of the NEV market, especially as it pertains to local transportation within cities and communities. However, there is a clear gap in the market when it comes to meeting the needs of the modern-day driver, especially the technology and safety features they have come to expect.