(Bloomberg) — A meteoric rise in China’s U.S.-listed electric-vehicle stocks that disrupted market-value rankings and left some industry observers scratching their heads is showing signs of fizzling.After reaching record highs in New York, EV makers NIO Inc., Xpeng Inc. and Li Auto Inc. each lost more than 10% over the past week. A dramatic drop by giant Tesla Inc. — amid intensifying competition and the company missing out on being included in the S&P 500 Index — has some investors questioning the prospects of smaller Chinese contenders.The stocks’ surge was based on investors betting that Tesla will help broaden the …read more
Source:: Yahoo Finance
