NIU - Electric vehicle stocks rally after strong demand reports from China

Strong deliveries reports from Li Auto, Nio, XPeng and Tesla ([[TSLA]] +3.9%) over the holiday weekend have investors in the electric vehicles sector scrambling on high-volatility moves. Notably, Tesla's report included it effectively hitting its 500K deliveries target for 2020. Gainers in the sector include Li Auto (LI) +13.15%, Nio (NIO) +9.62%, XPeng (XPEV) +8.31%, Electrameccanica Vehicles (SOLO) +7.11%, BYD Group (BYDDF) +6.44%, Kandi Technologies (KNDI) +5.80%, Niu Technologies (NIU) +4.55%, Workhorse Group (WKHS) +2.95% and GreenPower Motor Company (GP) +2.05%. The optimism is largely tied to raised expectations on China demand, according to Wedbush Securities. "China remains a greenfield EV market opportunity as we believe overall EV sales can potentially double in the region over the next few years given the pent-up demand for EV vehicles across all price points," notes analyst Dan Ives. "We believe China (coming off what looks like a robust November/December) could see eye popping demand

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Electric vehicle stocks rally after strong demand reports from China