Cathie Wood, the head of Ark Invest, has reportedly bought low-on Tesla shares. This news and the surge in the stock prices of Chinese electric vehicle companies listed on the US stock market have led Tesla’s stock price to rise nearly 4% for the first time in a while.
On the 26th, Tesla recorded a 3.87% surge to $199.40 on the New York Stock Exchange compared to the previous trading day.
The news of Wood’s low-priced purchase of Tesla shares seems to have boosted Tesla’s stock price, although it is still unknown how many Tesla shares she has amassed.
In addition, Chinese electric vehicle stocks rallied all at once when Li Auto’s stock price skyrocketed due to the news that it shared its net profit for the first time, contributing to Tesla’s sharp rise.
Li Auto reported in its earnings announcement that it delivered 121,805 vehicles in the last quarter, a 182% increase compared to the previous year, and shared its net profit for the first time since its establishment.
Consequently, the stock price of Li Auto, listed on the US stock market, surged to 15%. Upon hearing this news, the stock prices of other Chinese electric vehicle companies also soared. Xiaopeng increased by 7% and NIO by 5%.
With Tesla’s surge, all American electric vehicles, except Nikola, also rallied.
sinopark@news1.kr