No question, you need to tread lightly with any Chinese stock. It's no coincidence that at 12:30 in the afternoon yesterday they tweeted about the 6,000 EV backlog. Somewhere in China, there's a guy sitting at a computer pumping this thing to make profit himself. With momentum, there is money to be made. Without ... Run.
First of all, while I don't know the guy personally who tweeted that, I do know he has nothing to do with the Company. He is an investor here in the US. Since I am not a Tweeter, I am not directly familiar with what he said, but I did hear about it. While I can assure you he did not get that news from the Company, I do know the source of that 6000 waiting list number. It came from a recent non-KNDI specific media article published in China last week and posted on the KNDI Yahoo Private Chat board.
Here is the translated specific quote out of that article:
"In March of this year, the first 3 0 Taikang di JNJ6290EV model two-door electric vehicle, with 998 per month for rent, trying to run city of Hangzhou. According to the operation revealed, is now waiting "side" online subscribers have more than 6,000 people." From other non-publishes sources I have, I believe this 6000 number is now low.
If KNDI has one shortfall, it is its penchant for being ultra-conservative in what they report. There is no way they would the tactics that Elon Musk uses on Tweeter. Though hopefully some day I will convince them to do so.
Yahoo won't let me post the link, but if you can find they KNDI private forum, you can look under the links section to the right which is open to non-members and pull up this article you will find the above quote towards the bottom of the article"
2013-06-05- Self-rescue Hangzhou polymer batteries in electric cars rentals mystery