Why Tesla, Nio, and Li Auto Stocks All Just Popped
Reports Friday that Tesla (NASDAQ: TSLA) CEO Elon Musk had a “super bad feeling” about the economy, and might be preparing to lay off as many as 10% of its 100,000-strong global workforce sent shares of the electric car giant — and other electric car companies — tumbling to close out last week. As of 10:10 a.m. ET Monday, not only is Tesla stock back in the green with a 2% gain, but Chinese electric car makers Nio (NYSE: NIO) and Li Auto (NASDAQ: LI) are doing even better, rising 6.4% and 12.7%, respectively. This morning, Deutsche Bank warned that Tesla’s Friday emails constituted a “direct warning” of “looming demand deterioration” for electric cars of all makes and models.