CENN - EV stocks: Li Auto Sono Group and QuantumScape rally while AEye goes in reverse

Electric vehicle tocks saw some sizable gains in Monday morning trading on indications that the supply chain issues in Shanghai are improving. Of note, China followed through over the weekend with some COVID restriction easing in Beijing and Shanghai to help tilt sentiment positive on EV stocks. Notable gainers include Li Auto (LI) +13.80%, Cenntro Electric Group (CENN) +13.70%, Volcon (NASDAQ:VLCN) +13.11%, Sono Group (SEV) +11.18%, Mullen Automotive (MULN) +10.25%, Nio (NIO) +7.77%, Aurora Innovation (AUR) +6.75%, QuantumScape (QS) +5.85%, Ouster (OUST) +4.88%, and GreenPower Motor Company (GP) +4.80%. Tesla (TSLA) +2.40% is also higher on the day. Over the weekend, Elon Musk tweeted that Tesla's (TSLA) total workforce would rise over the next 12 months even as number of salaried workers remained broadly the same. It appears that Musk thinks Tesla (TSLA) is overstaffed in some areas, but not with employees that are part of the manufacturing process to assemble

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EV stocks: Li Auto, Sono Group and QuantumScape rally while AEye goes in reverse