Citron founder Andrew Left, known for some big short calls, recommended Nio shares, now worth $45 each, at $7 two years ago. Now he is short the name and says of the recent gains in multiple EV makers, "The fact is that retail investors take everything to be the next Tesla."
Evelyn Cheng | CNBC
Watch out, Tesla.
Morgan Stanley is expecting double-digit gains for China's electric car stocks given strong predicted growth as the industry moves rapidly toward tech upgrades.
"China's EV (electric vehicle) competition will be more of a tech battle in 2021," the analysts said.
For the market of new energy passenger cars the analysts raised their forecast by about 200,000 vehicles to 1.7 million in sales in China this year, about 41% growth from a year ago. NEVs, or new energy vehicles, include plug-in hybrids and electric vehicles.
"The NEV market is attaching greater importance to tech software and hardware features in 2021," Morgan Stanley said in a report dated Jan. 28.
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February 01, 2021 at 04:23PM
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Investing in China: Morgan Stanley's top picks for Chinese electric cars - CNBC
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