Despite NIO, LI and XPEV recording triple-digit percentage rise in November delivery count, the companies closed in the red yesterday amid renewed coronavirus concerns.
While Li Auto (LI) impresses investors with a massive revenue surge in Q3 and looks well poised to tap the EV frenzy, it may not be a prudent pick at the current price level.
The topsy-turvy market action we've seen over the past week continued on Wednesday morning, with many market participants breathing a sigh of relief as stocks looked poised to climb and regain some of their losses from Tuesday. S&P 500 (SNPINDEX: ^GSPC) futures gained 56 points to 4,622, and Nasdaq Composite (NASDAQINDEX: ^IXIC) futures were up 219 points to 16,369. It's the first day of the month, and that means Chinese electric vehicle companies are reporting their latest delivery figures.