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Why Nio, XPeng, and Canoo All Shot Higher Today

·2 min read

Stocks of many early-stage electric vehicle (EV) companies are on the move higher Thursday. Shares of China-based Nio (NYSE: NIO) and XPeng (NYSE: XPEV) were up 4.7% and 7.5%, respectively, as of 12:45 p.m. ET. After popping as much as 20%, the stock of U.S.-based Canoo (NASDAQ: GOEV) remained up 6.1% at that time.