Shares rose in premarket hours on Friday, benefiting from a report of strong shipping data as by Xpeng Inc. (XPEV) and NIO Inc. (NIO) in the hours before the US Open. For NIO, this meant over 60% jump in deliveries over the previous year, while growth for Xpeng (XPEV) was even more pronounced with a 133% jump from the previous year.
Optimism about renewed demand stemming from the lockout quickly faded during intraday trading as gains of just over 2% for both NIO and Xpeng quickly turned into losses of more than 6% at lows in within the day.
NIO Inc. (NIO) shares fell sharply in the last week as well caught the eye of a prominent short seller. Since then, the report has been furiously rejected from the company, also with analysts denying the charges.