Electric Vehicle Stocks Rebound and Major EV Companies Observe Share Spike
Crypto Engine is a crypto trading tool for investing in the crypto market with an %88 average win rate on trades and is the #1 trading software for crypto traders from all around the globe in 2022. Try it For FREE Today.
As per the latest reports, the stock prices for three major electric car manufacturing companies have experienced a rebound. The names of these three companies are Xpeng, Li Auto, and NIO. These companies.
In the period starting from July 21 to July 27, when all three electric vehicle companies based in China observed a price drop in their shares. Surprisingly, the share prices for all other Chinese companies listed on the US Stock Exchanges experienced a price drop.
However, the dark hour on all three electric vehicle manufacturing companies has passed. These companies have now started experiencing a rise in their share prices.
According to stats, the share prices for Xpeng have experienced a 9% increase. As a result, the share prices for the company are now hovering at $41.38 per share.
The second electric vehicle manufacturing company is Li Auto that has experienced an 11% increase in share prices. Following the surge, the share prices for Li Auto are now hovering at $33.97 per share.
The third (last) electric vehicle manufacturing company is NIO that has experienced a 4% increase in terms of share prices. After the price surge, the share prices for the company are at $44.50 per share.
On the other hand, other major Chinese companies enlisted on the stock exchange have experienced a share price drop. The data shows that the share prices for Didi experienced a 3% drop and the company’s share price is now $9.57 per share.
As for Alibaba, the share price for the eCommerce giant has experienced a 2% drop, and as of now, the company’s share prices are hovering at $195.19 per share.
The reason behind the sudden drop of share prices for all Chinese companies enlisted in the US Stock Exchanges is because of the Chinese Government. It was just recently when the Chinese Government started its regulatory crackdown on several major companies that are enlisted on the US Stock Exchange markets.
The first company hit hard by the Chinese regulatory authorities was Alibaba where the regulators launched an investigative drone against the eCommerce giant. As a result, the company had to face a huge fine for running a business monopoly.
At the beginning of July, the Chinese regulators have gone after Didi taking regulatory action against the Uber-like ride-hailing company. The tech giant is currently facing regulatory scrutiny from the Chinese regulators.
As a result, the Didi application has been removed from the application stores of the major service providers in China such as WeChat and AliPay. Now, none of the new users are able to download the Didi application for usage.
Amid all the chaos, the electric vehicle sector in China seems to be gaining a lot of demand internationally. This is the reason why the EV companies are experiencing a rebound while non-EV companies are still under the water.
Altcoin Directory is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site (namely Branded Content Posts) is paid content that is not written by our authors and the views expressed do not reflect the views of this website. Any disputes you may have with brands or companies mentioned in our content will need to be taken care of directly with the specific brands and companies. The responsibility of our readers who may click links in our content and ultimately sign up for that product or service is their own. Cryptocurrencies, NFTs and Crypto Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.