Benzinga | Nov 20, 2020 11:53AM EST

Why Kandi Technologies Stock Is Trading Lower Today

Kandi Technologies (NASDAQ:KNDI) shares are trading lower on Friday after the company priced a $100 million registered direct offering of roughly 8.85 million units at $11.30 per unit.

Kandi Technologies is engaged in the development, production, and distribution of the electric vehicle products, EV parts, and off-road vehicle products primarily in the Chinese market.

Kandi Technologies shares were trading down 8.05% at $13.25 at publication time. The stock has a 52-week high of $17.40 and a 52-week low of $2.17.