Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Kandi Technologies Group (KNDI 6.10%) were getting a bounce today, climbing as much as 11% before finishing up 4% after word that its electrical vehicle sales were improving.
So what: The Chinese maker of EVs, ATVs, and other specialized vehicles said deliveries of electric cars were set to jump to 2,800 in the fourth quarter. The news seems to represent a tipping point for the company. CEO Hu Xiaoming said, "In 2014, we expect our EV business may surpass our legacy go-cart business and become a major revenue generator for the Company." Hu also noted support from the government as driving new business.
Now what: The new-found growth in electric vehicle sales seems to be a result of an expanding car-sharing program in the world's No. 2 economy, as a nascent network in the city of Hangzhou aims to put 100,000 EVs on the road, and Kandi is expected to be the principal provider of vehicles for the car-sharing project. Given the potential in electric vehicles in general, and the explosive growth possibility in the burgeoning car-sharing network in particular, Kandi seems like one stock to keep your eye on. That kind of potential is enough reason for me to give it a thumbs-up in CAPS. You can stay informed on Kandi new by adding the stock to your Watchlist here.
