Why were these three Chinese auto stocks trending Wednesday?

Be the First to Comment Read

Why were these three Chinese auto stocks trending Wednesday?

Follow us on Google News:
 Why were these three Chinese auto stocks trending Wednesday?
Image source: Katerina Shi,Shutterstock

Summary

  • 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.

Also Read: Take a look at top 10 global renewable energy stocks

Source: Pixabay

Also Read: ‘Best day ever’, says Jeff Bezos on Blue Origin spaceflight launch


NIO
 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.

Also Read: Elon Musk boosts Dogecoin price, again

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.  

Also Read: 5 popular blockchain companies in the world

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.

Disclaimer

Featured Articles