- A bit of a reset in the electric vehicle sector has Chinese auto stocks Li Auto (LI -8.3%), Kandi Technologies (KNDI -1.9%), XPeng (XPEV -6.9%) and Nio (NIO -5.4%) all trading lower.
- Investors may be a rattled somewhat by news that Tesla halted production on its Model 3 line in California temporarily, potentially due to a chip shortage.
- The goods news may be that the chip shortage situation is already improving based on comments yesterday by General Motors CFO Paul Jacobsen.
- Earlier today, Li Auto topped estimates on both lines of its Q4 report.