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What's Happening With Nio, Li Auto, Xpeng, Alibaba And Pinduoduo Stock Today?

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What's Happening With Nio, Li Auto, Xpeng, Alibaba And Pinduoduo Stock Today?

Shares of several China-based companies, including Nio Inc - ADR (NYSE: NIO), Li Auto Inc. (NASDAQ: LI), Xpeng Inc - ADR (NASDAQ: XPEV), Alibaba Group Holding Ltd - ADR (NYSE: BABA) and Pinduoduo Inc - ADR (NASDAQ: PDD), are trading lower after inflation data caused concerns of policy tightening in the country. Tensions between China and the U.S. have also weighed on sentiment.

Companies in the broader auto and auto components space were also trading lower Friday amid sector weakness for the section amid the ongoing semiconductor shortage. 

Nio operates in China's premium electric vehicle market. The company designs and jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving, and artificial intelligence.

Nio is trading lower by around 4% at $37.26.

Li Auto is the first to successfully commercialize extended-range electric vehicles in China. It started volume production of its first model, Li ONE, in November 2019.

Li Auto is trading lower by 3% around at $22.48.

Xpeng is a smart EV company designing, developing, manufacturing and marketing smart electric vehicles in China.

Xpeng is trading lower by around 2.4% at $34.60.

Alibaba is the world's largest online and mobile commerce company. The company operates China's most-visited online marketplaces, including Taobao (consumer-to-consumer) and Tmall (business-to-consumer). 

Alibaba is trading lower by around 2.8% at $221.85.

Pinduoduo provides a platform for buyers with value-for-money merchandise and fun and interactive shopping experiences. Pinduoduo offers a social shopping experience that leverages social networks as an effective and efficient tool for buyer acquisition and engagement.

Pinduoduo is trading lower by around 2.38% at $136.87.

 

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