The electric car sector is not going through a good time. The general falls in the Nasdaq are weighing down stocks such as Tesla or Nio, which this Tuesday registered strong declines.
The Chinese Nio has fallen more than 3% although it has fallen by 20% after ending Monday with falls close to 8%. The red numbers of the last months are such that almost a 40% from all-time highs in January.
Very similar is the Tesla tour. Those of Elon Musk extend Monday’s falls and have fallen 2.19% this Tuesday after falling 8% on Monday. Its shares are at $ 698, level not seen since late December. Since it set new all-time highs in January, at $ 900, it is down 30%.
It is not being a good Tuesday for XPeng and Li Auto either. Both have left 0.25% and 3% respectively and plummet about 50% from all-time highs. The path of both values is very similar. They made their debut on the stock market last summer and closed their first trading year with gains of 65% and 58% respectively.
The strong falls of the last days come after having been the big winners of 2020. Those of Elon Musk closed last year with a revaluation of 743% and above $ 700, it split its shares at the end of August.
Telsa’s increases in 2020 are small compared to those of its Chinese rival. Their titles soared more than 1,100%, going from 4.10 dollars to 48.74 with which it closed the last session of the year. During that day, it exceeded $ 50.