Why Shares of Li Auto, NIO, and XPeng Are Surging Again Today
Shares of Chinese electric-vehicle (EV) makers soared yesterday, and another earnings report has them surging in the premarket trading again today. After reporting its third-quarter results, shares of Li Auto (NASDAQ: LI) are up 17% as of 9:20 a.m. EST. Others are also along for the ride. Shares of NIO (NYSE: NIO) and XPeng (NYSE: XPEV) are each up 6% on top of strong double-digit gains on Thursday.
Recent data on deliveries from Chinese EV companies have had the stocks soaring, which was supported by Li Auto competitor XPeng reporting better-than-expected earnings yesterday. Today's results from Li Auto aren't quite as impressive, but they are enough for investors to keep driving the momentum in the Chinese company's stocks.
Li Auto One EV. Image source: Li Auto.
Source Fool.com
