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Is Kandi Technologies a Good Electric Vehicle Stock to Buy?

Stock Markets6 minutes ago (Jun 14, 2021 12:30PM ET)

(C) Reuters. Is Kandi Technologies a Good Electric Vehicle Stock to Buy?

The price of shares of China-based Kandi Technologies (KNDI) soared after the company unveiled its premium four-wheeler electric vehicle (EV) last month. However, given heated competition from foreign and local players, and the ill effects of a global semiconductor chip shortage, will the stock be able to perform well in the near term? Read on.Headquartered in Jinhua, China, Kandi Technologies Group, Inc. (KNDI) develops, produces and markets electric vehicle (EV) products and parts and electric scooters and EV battery packs internationally. KNDI’s stock has gained 114.9% over the past year. This gain is attributable primarily to the optimism surrounding the company’s new product development initiatives and EV industry tailwinds in China.

However, its shares have declined 7.8% year-to-date. The company reported a loss in its first quarter financial results. Meanwhile, because the global semiconductor chip shortage is expected to persist, it could hamper KNDI’s production lineup. In addition, because competition in the sector is intensifying, KNDI’s poor profit margin could cause the stock to continue declining .

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Is Kandi Technologies a Good Electric Vehicle Stock to Buy?

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