Why Shares of Kandi Technologies Crashed Today

Howard Smith, The Motley Fool
·2-min read
Why Shares of Kandi Technologies Crashed Today

Shares of Kandi Technologies (NASDAQ: KNDI) plunged 25% this morning after a short-seller report was released. On Nov. 20, Kandi announced it was seeking to raise $100 million, less than two weeks after it had executed another stock offering at a much lower share price to raise $60 million. Kandi said the money raised will be used for "expenditures necessary to assure that our EV models comply with all necessary requirements for the entry into the U.S. market."