Why Are Chinese EV Stocks NIO, LI, XPEV Up Today?

  • Chinese electric vehicle (EV) stocks are climbing higher on Thursday.
  • This comes after these stocks saw a dip in price yesterday.
  • Earnings from Tesla (TSLA) are also likely affecting the shares.
Chinese EV Stocks - Why Are Chinese EV Stocks NIO, LI, XPEV Up Today?

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Chinese electric vehicle (EV) stocks are gaining on Thursday as the shares make a comeback from yesterday’s fall.

Part of the reason for that is Tesla (NASDAQ:TSLA) released its earnings report for the third quarter of 2022 today. The EV giant revealed an earnings miss for the quarter that disheartened other American EV stocks.

To go along with that, Tesla also said it might have trouble with its supply chain. That could result in the EV maker not delivering as many units as expected during the fourth quarter of the year.

It seems that this has investors betting on Chinese EV stocks instead today. Traders will also note that these companies are starting to sort out how the U.S. ban on exports of certain semiconductors will affect their business, Seeking Alpha notes.

Keeping all of that news above in mind, let’s dive into who Chinese EV stocks are moving today below!

Chinese EV Stocks Rising on Thursday

  • Nio (NYSE:NIO) stock starts us off with the Chinese EV company seeing a 2.3% gain as of Thursday morning.
  • Xpeng (NYSE:XPEV) shares are up next with the company’s stock rising 4.7% as of this writing.
  • Li Auto (NASDAQ:LI) stock closes out the Chinese EV stocks were checking on today with a 4.3% gain this morning.

Investors looking for other hot stock market news will want to stick around!

InvestorPlace is home to all of the best stock market coverage traders need for Thursday! A few examples include why shares of Mullen Automotive (NASDAQ:MULN), Philip Morris (NYSE:PM), and Indonesia Energy (NYSEMKT:INDO) stock are moving today. You can read up on all of that at the links below!

More Thursday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2022/10/why-are-chinese-ev-stocks-nio-li-xpev-up-today/.

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