XPEV - Why Nio XPeng and Li Auto Shares Shot Higher Wednesday
Electric vehicle (EV) stocks are volatile by nature. Most EV companies aren't yet profitable, and much of investors' excitement is built on hope and potential. But recent volatility hasn't been driven by the underlying business or market potential. U.S.-listed Chinese EV names have been especially affected recently by uncertain futures on U.S. stock exchanges.
That volatility played in their favor Wednesday, with stocks of names including Nio (NYSE: NIO) , XPeng (NYSE: XPEV) , and Li Auto (NYSE: LI) shooting higher. As of 11:15 a.m. ET, their shares were up 20.6%, 27.1%, and 28%, respectively.
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Why Nio, XPeng, and Li Auto Shares Shot Higher Wednesday