Why NIO, Li Auto, and Xpeng Stocks Are Down Today
The U.S.-listed shares of several Chinese electric-vehicle makers were trading down on Wednesday after the Chinese government imposed restrictions on ride-hailing giant DiDi Global (NYSE: DIDI) following its initial public offering in New York.
Here's where things stood for these three companies' American depositary shares as of 1 p.m. EDT, relative to their closing prices on Tuesday.
China's government said earlier this week that it has launched cybersecurity reviews on DiDi and several other Chinese companies that have listed on U.S. markets in 2021, including Full Truck Alliance (NYSE: YMM) and Kanshun Limited (NASDAQ: BZ). The government's concern is apparently that the audits and oversight required of U.S.-listed companies could compromise the security of Chinese consumers' information.
Source Fool.com
