EV stocks rebounded in morning trading, with Li, Xpeng and Faraday Future rising over 3%.
Cathie Wood-led Ark Investment Management on Thursday further raised its exposure in the U.S. listed Chinese electric vehicle maker Xpeng Inc
on the dip, and sold nearly all its balance shares in Paypal Holdings Inc.
The popular money managing firm bought 57,657 shares — estimated to be worth $1.99 million — in the Guangzhou, China-based Xpeng.
The money managing firm has been buying shares in Xpeng via the Ark Autonomous Technology & Robotics ETF.
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