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EV Startups Ascend as LI AUTO Lifts 5%+, But GEELY AUTO & GWMOTOR Retreat
Recommend 16 Positive 30 Negative 15 |
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Major mainland electric vehicle companies met their 2Q24 targets with strong sales performance in June, according to Morgan Stanley. EV startups are outperforming the market this morning. LI AUTO-W (02015.HK) opened 6.26% higher at $75.95. It now trades at $74.1, hiking 5.41%, with 7.6915 million shares traded, involving $576 million. NIO-SW (09866.HK) opened 2.64% higher today, up to $35.5. It now trades at $34.8, rising 2.2%, with 1.0741 million shares traded, involving $37.7071 million. XPENG-W (09868.HK) opened 1.86% higher today, trading as high as $31. It now trades at $30.1, elevating 1.86%, with 5.7549 million shares traded, involving $176 million. For other auto stocks, BYD COMPANY (01211.HK) opened 0.34% higher today and peaked at $234. It now trades at $229.8, down 0.95%, with 2.4072 million shares traded, involving $558 million. GEELY AUTO (00175.HK) reported a 24% YoY increase in total vehicle sales in June and raised its full-year target by 5% to 2 million units. JPMorgan also considered GEELY's 1Q24 results to be in line with expectations and expected it to continue to improve in 2H24. GEELY opened lifting 4.78% higher today, once hitting a high of $9.21. It now trades at $8.67, receding 1.37%, with 38.5498 million shares traded, involving $344 million. GWMOTOR (02333.HK) sold 26,100 units of new energy vehicles in June, up 5.9% MoM. Daiwa upgraded its target price to $20, saying it may be unexpectedly strong this year. CKI opened 2.66% higher today, reaching a high of $12.48. It is now trading at $11.64, retreating 3.32%, with 17.5739 million shares traded, involving $211 million. AAStocks Financial News |
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