Why were these three Chinese auto stocks trending Wednesday?

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Why were these three Chinese auto stocks trending Wednesday?

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 Why were these three Chinese auto stocks trending Wednesday?
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  • NIO Inc. (NYSE: NIO) delivered 20,060 vehicles in Q1 of FY 2021. The stock was up 6.09% on Wednesday.
  • XPeng Inc. (NYSE: XPEV) stock was up 7.26% on Wednesday. It priced its new smart sedan-P5 price range at RMB 160,000-230,000.
  • Li Auto Inc. (NASDAQ: LI) stock traded at 8.49% up at 3:50 pm ET on Wednesday.  

Chinese electric vehicle makers NIO Inc., XPeng Inc. (NYSE: XPEV), and LI Auto Inc. (NASDAQ: LI) saw renewed investors’ interest on Wednesday, with the stocks seeing considerable gains in intraday trade.

NIO was up 6.09% to US$46.859 at 3:16 pm ET, XPeng Inc. was trading higher at 7.26% to US$43.72 at 3:50 pm ET, while Li Auto Inc. jumped 8.49% to US$33.34 at 3:50 pm ET.

The Shanghai-based NIO Inc. is making next-generation EVs and technologies for autonomous driving. In Q1 of FY 2021, it delivered 20,060 vehicles.

NIO Inc. has a market cap of US$76.35 billion.

XPeng was founded in 2015, and its market capitalization is US$35.13 billion. Its share volume is 16,229,512. XPeng is another EV maker in China. Its top models include SUV-G3 and P7.

Li Auto Inc. is another Chinese electric vehicle, and it was established in 2015. It went public last year.

The stock’s trading volume on Wednesday was 15,851,084.

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Source: Pixabay

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 earned revenue of US$1,218.3 million, and incurred a net loss of US$744.1 million or US$ 0.04 per share diluted in Q1 of 2021.

The stock has been rising steadily. Its 52-week highest price was US$66.99, and the lowest was US$10.91, and the average volume is 121,148,971.

It gave around 243% in one year at the closing price of US$44.17 on July 20, 2021.

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XPeng announced its new smart sedan-P5 price range at RMB 160,000-230,000 on July 19. It expects to deliver the car in Q4. It delivered 13,340 vehicles in Q1.

Its revenue was US$450.4 million, an increase of 616.1% year-over-year, and the quarterly gross margin reached 11.2%. It incurred a net loss of US$120.1 million in the March quarter of 2021.

The stock’s last 52-week highest price was US$74.49, and the lowest was US$17.11. The stock price rose nearly 99% since August 31, 2020. The stock had closed at US$40.76 on July 20, 2021.  

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LI Auto’s market cap is US$30.22 billion. The stock’s 52-week highest and lowest price is US$47.70 and US$14.31, respectively. The stock rose by about 88% since its stock exchange listing in August 2020.

Please note: The above constitutes a preliminary view, and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.


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