Tesla stock may not be as impenetrable as thought
Electric vehicle (EV) stocks are poised for a pivotal year, and are already in focus to start 2025, as five major players report fourth-quarter delivery numbers. The biggest surprise came out of China, where BYD cleared its 4 million EV goal handily with just over 4.27 million, while reporting record sales in 2024. These numbers overshadowed omnipresent Tesla Inc (NASDAQ:TSLA), and have shaken up the sector. However, because BYD only trades on the OTC market exchange, let's see how the rest of the competition fared.
Tesla stock is down 6.8% to trade at $376.51 at last check, breaching $400 after the 495,570 fourth-quarter deliveries came in well below expectations. The company also fell short of delivery and production estimates for the full fiscal year. TSLA hit a record high of $488.53 on Dec. 18 and is still up 58% year-over-year, though today's gap lower has the shares testing their 100-day moving average.
Nio Inc -- ADR (NYSE:NIO) stock is up 4.3% to trade at $4.55, after the China-based company reported fourth-quarter deliveries that showed a 45% year-over-year increase. NIO is down 46.4% in the last 12 months, and is trading up into its 50-day moving average today.
Xpeng Inc (NYSE:XPEV) is down 2% to trade at $11.58, even after fourth-quarter deliveries surpassed estimates. XPEV is now down 19% year-over-year, though today's drop has fallen short of its 100-day moving average.
Li Auto Inc (NASDAQ:LI) stock is up 0.6% to trade at $24.13, after achieving 1.1 million cumulative vehicle deliveries. For December, deliveries represented a 16.2% year-over-year rise. LI is down 32.5% year-over-year.