What: Kandi Technologies 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.
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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.
The article Kandi Technologies Group, Inc. Stock Pops Ahead of Earnings originally appeared on Fool.com.
Daniel Sparks 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.