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Why Tesla, Nio, and Li Auto Stocks All Just Popped

Rich Smith, The Motley Fool
·2 min read
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.

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