More than 34,000 Robinhood traders piled into Kandi Technologies in a single day as shares surged
- More than 34,000 Robinhood traders have added shares of Kandi Technologies, a Chinese electric vehicle maker that competes with Tesla, in the last 24 hours, according to data from Robintrack.net.
- Shares of the company surged nearly 350% in two days after the company announced it will launch 2 vehicles in the US next month.
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Thousands of Robinhood traders are adding shares of Kandi Technologies during the company's epic rally that's seen shares surge as much as 350% in the last two days.
In the last 24 hours, more than 34,000 Robinhood accounts have added shares of the Chinese electric vehicle maker that competes with Tesla and Nio, according to data from Robintrack.net.
Now, a total of 38,131 accounts on the popular trading app hold Kandi shares. In the last day, it's the second-most added company, behind Eastman Kodak, which has had nearly 37,000 users add shares amid its own record-breaking surge.
Kandi Technologies recent popularity comes two days after the company announced that it will launch two of its electric vehicles in the US in August. The company also said that the vehicles will be available for delivery by the end of the year.
Kandi's EVs cost significantly less than similar models at competitors such as Tesla.
Shares of Kandi have surged more than 143% year to date.
