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The Crazy Ride of NIO, Li Auto, and XPeng Stock

The Crazy Ride of NIO Li Auto and XPeng Stock
Chinese electric-vehicle stocks are on fire. And the share-price volatility is something to behold. Li Auto and NIO—as well as XPeng—dipped into the red Friday after starting out much higher.

Chinese electric-vehicle stocks are on fire. And the share-price volatility is something to behold. Li Auto and NIO—as well as XPeng—slid to end in the red Friday after starting out much higher. It was an incredible reversal.

Li Auto stock (ticker: LI) broke $40 a share in early trading after reporting third-quarter numbers. Shares were up more than 28% at the peak. The stock then briefly dipped into the red and bounced back, up 4.6% on the day in midday trading. Shares closed down 1.8%.

NIO...

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