EV stocks sell-off after Middle East War Latest Escalation
$Tesla(TSLA.US$ $XPeng(XPEV.US$ $NIO Inc(NIO.US$ $BYD COMPANY(01211.HK$ EV stocks at US stock exchange faced sell-off after Israel's Iran attack as reported by US officials. Later the attack was played down as calibrated under US pressure. You can read here:
Xpeng: Share price fell 3.35% and hit 52-week low of 6.86 USD
Nio: Share price fell 5.00% and hit 52-week low of 3.710 USD
Li Auto: Share price fell 9.60% and hit low of 26.20 USD since 10 May 2023
Tesla: Share price fell 1.92% and hit 52-week low of 146.22 USD
Rivian: Share price fell 2.27% and hit 52-week low AND Historical low of 8.26 USD
EV stocks at HK stock exchange are not spared:
Xpeng-W: fell 7.38% and hit 52-week low 26.95 HKD
Nio-SW: fell 1.79% and hit 52-week low AND Historical low 29.25 HKD
Li Auto-W: fell 7.40% and hit low 105.00 HKD since 31 Jan 2024
BYD: fell 2.04%
My take: Although the main reason for EV stocks faced downtrend was caused by lower in EV demand in China, the Middle East War escalation was the trigger to the huge sell-off yesterday. It is fairer to compare the EV stock performance under the same industry.
$BYD COMPANY(01211.HK$ $BYD Co.(BYDDF.US$ $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Tesla(TSLA.US$ $VOLKSWAGEN A G(VWAGY.US$ $NIO Inc(NIO.US$ $Li Auto(LI.US$ $XPeng(XPEV.US$ $General Motors(GM.US$ $Ford Motor(F.US$ $Rivian Automotive(RIVN.US$ $MERCEDES-BENZ GROUP AG(MBGAF.US$ $TOYOTA MOTOR CORP(TOYOF.US$ $GEELY AUTO(00175.HK$ $Stellantis NV(STLA.US$
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