EV Stocks Gained Against the Trend

US stocks slipped on Wednesday, with major stock indexes falling for the second consecutive trading day. The bank's earnings report was mixed. The news about the deadlocked US fiscal stimulus negotiations and the frustrating results of coronavirus vaccine trails have put pressure on the market.

But in terms of EV stocks, $NIO Inc (NIO.US)$ surged 22% on Wednesday and rose another 3% in after-hours trading. JPMorgan analysts raised the NIO target price to a new Wall Street high of $40, and Citi analysts also raised the target price to $33.20. Since the beginning of this year, NIO's share price has risen by 559%.

The other two new Chinese EV-makers also followed the surge. $Li Auto (LI.US)$ and $XPeng (XPEV.US)$ rose by 7% and 12% respectively on Wednesday.