Shares Of China EV Companies Lower Premarket; The China Association of Auto Manufacturers On Saturday Retracted Their Pledge Made Two Days Earlier To Avoid Abnormal Pricing, Citing Antitrust Law
Portfolio Pulse from Charles Gross
The China Association of Auto Manufacturers (CAAM) has retracted its pledge to avoid abnormal pricing, citing antitrust law. This has led to a premarket drop in the shares of Chinese electric vehicle (EV) companies.
July 10, 2023 | 8:49 am
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NEGATIVE IMPACT
BYD Company Limited's stock may be negatively impacted by the CAAM's retraction of its pledge to avoid abnormal pricing.
As a major Chinese EV manufacturer, BYD is likely to be directly affected by the CAAM's decision, which could lead to increased price volatility in the market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
iShares China Large-Cap ETF (FXI) may be negatively impacted by the CAAM's retraction of its pledge to avoid abnormal pricing.
FXI, which includes large Chinese companies, may be affected by this news as it could lead to increased price volatility in the Chinese market.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Li Auto Inc.'s stock may be negatively impacted by the CAAM's retraction of its pledge to avoid abnormal pricing.
As a Chinese EV manufacturer, Li Auto is likely to be directly affected by the CAAM's decision, which could lead to increased price volatility in the market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
NIO Inc.'s stock may be negatively impacted by the CAAM's retraction of its pledge to avoid abnormal pricing.
As a Chinese EV manufacturer, NIO is likely to be directly affected by the CAAM's decision, which could lead to increased price volatility in the market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Tesla Inc.'s stock may be negatively impacted by the CAAM's retraction of its pledge to avoid abnormal pricing.
Although Tesla is a US-based company, it has significant exposure to the Chinese market. The CAAM's decision could lead to increased price volatility, potentially affecting Tesla's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
XPeng Inc.'s stock may be negatively impacted by the CAAM's retraction of its pledge to avoid abnormal pricing.
As a Chinese EV manufacturer, XPeng is likely to be directly affected by the CAAM's decision, which could lead to increased price volatility in the market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80