Cars on sale / DiDi stock dips after announcing it will delist from the NYSE China-based electric vehicle (EV) makers NIO Inc. NIO, Li Auto LI and XPeng Inc. XPEV recently released their delivery numbers for the month of November. All the three firms recorded a triple-digit percentage increase in their delivery count on a year-over-year basis despite the global chip crisis.
Despite delivering robust delivery numbers, each of the companies closed in the red in yesterday’s trading session. Shares of NIO, LI and XPEV fell 5.5%, 3.4% and 5.6%, respectively, on rising COVID-19 concerns. Investors are understandably rattled by the new strain of the coronavirus, Omicron, which aroused fresh concerns about potential business disruptions in China. While NIO and XPeng currently carry a Zacks Rank #3 (Hold), Li Auto is Ranked #4 (Sell).
Chinese stocks keep dropping Chinese Internet. . .BABA JD PDD VIPS BIDU TME NTES TCOM BILI YY BEKE DADA DIDI
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