Seeking Alpha: Maxwell Down On Power, But Still Promising

Six months ago, I thought that the hoopla over Maxwell Technologies' (NASDAQ:MXWL) prospects of securing an ultracapacitor order from Tesla (NASDAQ:TSLA) (in addition to or along with other auto OEM orders) had taken the shares a little too far for my comfort, and that it was better to wait for a pullback. The shares proceeded to climb another 25% from that point, but have been cut down by more than half on a guidance reset following second-quarter numbers and the perception that management has backed away from its guidance for multiple automotive design wins in 2014.

All in all, while the this sharp decline from the late May highs has to be painful for Maxwell shareholders, the story has really changed all that much. The company's ultracapacitors continue to look like an interesting solution for a variety of applications in transport and energy, while the company's manufacturing approach should support attractive margins. Order timing is a major unknown, and these shares are vulnerable to the vagaries of the market's appetite for risky stories, but this seems like a good time for risk-tolerant investors to take a closer look.

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Maxwell Down On Power, But Still Promising

Seeking Alpha: Can Micro-Transport Be A Major Driver For Kandi Technologies?

There's a lot of weirdness around Kandi Technologies (KNDI). These shares have risen more than 50% in the past year and about 340% over the past two years on the sizzle of the company's opportunity and potential in all-electric vehicles (or EVs) within China, even though it has never been particularly successful at selling electric ATVs, go-karts, or other products, let alone passenger autos. Like many Chinese companies, it employs a Byzantine holding company structure, employs a largely unknown auditor, and used a reverse merger to list its shares in the U.S..

On the other hand, this company boasts a joint venture with Geely (OTCPK:GELYY), one of the largest domestic auto manufacturers in China. Together, these companies are addressing a "micro-transport" market in China that could support hundreds of thousands of vehicles without needing to compete directly with the likes of Tesla (TSLA), BYD (OTCPK:BYDDY), BMW (OTCPK:BAMXY), and a host of joint ventures between Chinese domestics and larger global car companies. While working Geely doesn't guarantee the quality of Kandi, it does offer some assurance that there are real products and a real market here. While I think the fair value is far beyond murky and very difficult to quantify at this point, as "opportunity stocks" go, Kandi at least has a good story to tell.

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Can Micro-Transport Be A Major Driver For Kandi Technologies?

Seeking Alpha: Is It Too Late To Jump Into Maxwell Technologies?

About six months ago, I thought Maxwell Technologies (MXWL) looked pretty interesting, as Wall Street seemed to be incorporating pretty reasonable expectations for a company that could become a high-growth story stock. I should have followed my own advice, as although the stock drifted down through mid-December, the shares have since rocketed up on rumors of a potential partnership with electric car pioneer, Tesla Motors (TSLA).

Maxwell still has a lot to prove, not only in terms of driving OEM acceptance of its ultracapacitors, but also in terms of being able to generate meaningful margins and cash flows as the business scales up. With the stock up 50% from late September, it almost goes without saying that it is not as cheap as it was and that the expectations that go into supporting today's valuation are not as conservative.

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Is It Too Late To Jump Into Maxwell Technologies?