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NIO and Its EV Peers Take Hit on Delisting Concerns. Even Tesla Is Impacted.

https://www.barrons.com/articles/nio-xpeng-china-delisting-concerns-tesla-51638553984?siteid=yhoof2

Shares of U.S.-listed Chinese electric-vehicle producers were getting hammered Friday, and it has nothing to do with fundamentals of the EV market.

Instead, it’s a stock listing issue. The fallout seems to spreading to even Tesla (ticker: TSLA).

Investors hate uncertainty. And uncertainty reigns regarding U.S. listings of Chinese stocks. Didi (ticker: DIDI) catalyzed the new round of uncertainty after the company said Friday it plans to de-list from the New York Stock Exchange. That’s just a few months on from the company’s initial public offering.

Didi stock was down about 16%. Shares of NIO (NIO), XPeng (XPEV) and Li Auto (LI) shares also were getting hammered, with shares down roughly 9%, 9% and 14%, respectively. Their drops seem to be roiling stock in EV leader Tesla too, which was down 5.5%.