Chinese EV stocks in the express lane

Kandi Technologies

13/11/2020 15:36

** Shares of Chinese electric-vehicle makers continue to
race higher as Li Auto  LI.O  leads the charge on Fri
    ** LI surges 14.2% on Q3 rev beat, strong outlook in its
first report since going public in July  urn:newsml:reuters.com:*:nL4N2HZ2SG
    ** Xpeng Inc  XPEV.N  rises 4.6% to fresh high following 33%
jump on Thurs after co also posted Q3 beat, and forecasted Q4
deliveries to more than triple yr/yr  urn:newsml:reuters.com:*:nL4N2HY4NR
    ** Nio Inc  NIO.N  up 4.4% to new all-time high of $50.43.
This as Citron Research on Fri says it has $25 PT on the
stock urn:newsml:reuters.com:*:nFWN2HZ0WD. Kandi Technologies  KNDI.O  up 14.0%
    ** Other EV stocks also along for the ride: Fisker Inc
 FSR.N  up 16.4%, Nikola  NKLA.O  up 8.4% and Lordstown Motors
 RIDE.O  up 8.2%
    ** Though Tesla  TSLA.O  and Workhorse Group  WKHS.O  taking
a break from the recent rally, down about ~2% and ~6%,
respectively, on the session
    ** Meanwhile, Wall Street gains on Fri after upbeat results
from Cisco and Disney  .N 

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com))