What: Shares of Kandi Technologies Group (NASDAQ:KNDI) rose 18.6% Monday on no material news.

So what: At this point, Kandi investors should be accustomed to the volatility. Shares of the China-based electric car maker have rebounded more than 70% since touching a new 52-week low on Sept. 29, 2015. At the same time, zooming further out reveals a much more sobering picture, as Kandi Technologies stock has still fallen around 34% so far in 2015:

KNDI Chart

KNDI data by YCharts

Some of that pain came as the broader Chinese markets fell earlier this year, which effectively overshadowed a promising new agreement to provide thousands of electric vehicles to Zhejiang Shi Kong Electric Vehicle by the end of the year. Most recently, Kandi stock took another big hit after the company released its second-quarter results, where 45.5% revenue growth and its fifth consecutive profitable quarterly performance was almost entirely driven by increases in sales under its joint venture with Geely Automotive

Now what: Keeping in mind there are no formal analyst estimates to which investors can compare Kandi's quarterly results, shareholders of this small-cap Chinese stock must be willing to accept its speculative nature and, consequentially, these kinds of wild, "no-news" swings. That said, I'm personally unsettled by the fast and furious nature of Kandi's most recent rise, so wouldn't blame investors for taking at least some of these quick profits off the table.

Over the long term, however, shareholders would do well do concentrate instead on the progress of Kandi's actual business. As long as Kandi Technologies continues to strike new partnerships and expand its reach, the stock should be able to reward thick-skinned shareholders for their patience.

Steve Symington has no position in any stocks mentioned. The Motley Fool recommends Kandi Technologies. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.