What: Kandi Technologies (KNDI -2.97%) stock jumped more than 10% on Wednesday. But the gain has settled to just over 9% at the time of this writing.
Kandi E-Car. Image source: Kandi Technologies.
So what: There's no clear reason for the stock's volatility on Wednesday, though the move does follow an announcement on the same morning that the company would report third-quarter results on Monday, Nov. 9, before market open in the U.S. The company also said it would host a conference call at 8 a.m. ET to discuss the results.
Perhaps some big investors just wanted to make sure to go long on the stock ahead of its third-quarter results.
With a market capitalization of just $447 million, and considering the company is in a high-revenue growth stage, volatility for Kandi Technologies stock is fairly commonplace. In the last 12 months alone, shares have traded as high as $17.48 and as low as $5.10.
Now what: The day's move has no impact on the company's intrinsic value. Though it's a good reminder that investors can tune into the company's earnings report next month.
