9:01 a.m. Nov. 30, 2020
- By Tomi Kilgore
Kandi's stock tumbles after short seller Hindenburg takes aim at China-based EV makerShares of Kandi Technologies Group Inc. tumbled 24.5% in active midday trading Monday, after short seller Hindenburg Research took aim at the China-based electric vehicle maker, alleging a "brazen scheme" to "falsify revenue using fake sales to undisclosed affiliates. Trading volume spiked to 29.5 million shares, already nearly double full-day average of about 15.0 million shares. The stock has now plunged 31.1% since closing at a 6-year high of $14.93 a week ago. Hindenburg said it's investigation into the company's factories and customer locations found that most of Kandi's sales to its top customers over the last 12 months (LTM) have been to related parties. The largest customer representing 55% of LTM sales shares a phone number with a Kandi subsidiary and an executive with Kandi, Hindenburg said. The report also said that on a visit to the customer's location, a sign indicating it was a Kandi company was found. Kandi declined a MarketWatch request for comment. Despite Monday's selloff, Kandi's stock has still rallied 64.2% in November, while the iShares MSCI China ETF has edged up 3.1% and the S&P 500 has gained 10.6%.
1:27 p.m. Sept. 29, 2020
- By Quentin Fottrell
Trump reportedly paid no federal income tax in 10 of the 15 years before his election. Why 75 million U.S. households pay no federal income tax The Tax Policy Center estimates how many people paid no federal individual income taxes in 2020The Tax Policy Center estimates how many people paid no federal individual income taxes in 2020.
4:36 a.m. June 25, 2020
- By Barbara Kollmeyer
Gold and silver penny stocks could be the next Robinhood trader obsession, says this portfolio manager Critical information for the U.S. trading dayCrescat Capital’s global macro analyst Otavio ‘Tavi’ Costa thinks we are in the early stages of a major bull market for precious metals, and that is good news for one unloved group of stocks.
4:55 a.m. June 5, 2020
- By Steve Goldstein
This contrarian strategist recommends chasing bears in these hard-hit sectorsOne strategist explains why he likes the sectors that bearish investors are betting against.
4:01 a.m. May 16, 2020
- By Barbara Kollmeyer
To survive the next few months, you only need two assets, says this money managerA money manager who says it is vital to keep things simple right now, which he does by trading just two instruments.