Jeff,
It was the private placement. Similar to what happened with PLUG a week or so ago (although KNDI's placement was closer to current PPS where PLUG's was at 1/2 of what current PPS for PLUG was at that time).
No big deal for KNDI. In the long run it is positive. There are a ton of momentum traders with KNDI. Guys that try to time trades long and short. I hardly ever concern myself with day to day.
The real story is the next 24 months. We both know KNDI is emerging as almost the default PRC choice for EV deployment in China. The political connections with both Geely and KNDI together make for a very powerful combination.
You probably saw my comments on Stock Twits. Trying to trade KNDI up and down is like crawling around the table looking for bread crumbs. Why do that when you can just remain seated at the table and eat a full meal? At least that is the way I am playing it.
If/when the PRC gets the garage construction moving along at a faster pace, KNDI will go parabolic. Geely/KNDI did not build out all that capacity to have it sit by unused. Every car they build means a check get cut to them from the PRC.
It will be interesting to watch the coming months.
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