Why Are Chinese EV Stocks XPEV, LI, NIO Down?
- Chinese electric vehicle (EV) stocks aren't doing so hot today.
- Macroeconomic factors also aren't helping matters.
Source: Ilija Erceg / Shutterstock
Chinese electric vehicle (EV) stocks are slipping on Tuesday asmacroeconomic factors affect the companiesalongside lockdown news.
First off, note that the economy is still suffering as a recession, inflation and rising interest rates weigh on markets. However, that’s not all of the bad news that companies in China are dealing with today.
A bigger factor that could be affecting Chinese EV stocks are lockdowns in their home country.
The lockdowns currently affect 33 cities and more are likely on the way. This has been a blow to Chinese stocks today with the ongoing lockdowns having a negative impact on the country’s economy.
Let’s see how this news is affecting Chinese EV stocks
Chinese EV Stocks Falling
- Xpeng(NYSE:XPEV) stock starts us off today with the company’s shares falling
- Li Auto(NASDAQ:LI) shares are next on the list with the company’s shares slipping slightly
- Nio(NYSE:NIO) closes out our Chinese EV stocks down today with a dip
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Hope it picks up quickly