Tesla
Tesla
stock was rising in early trading Monday, heading for an upbeat start to the week.
The electric-vehicle maker’s shares were up 0.1% in the premarket, while futures on the
S&P 500
fell less than 0.1% and those on the
Nasdaq Composite
were just above flat.
The stock move comes as several of its peers issued updates. BYD,
the Warren Buffett-backed Chinese company that surpassed Tesla as the biggest producer of EVs last year, put out a statement that it might buy back twice as many shares as it had suggested previously.
Also,
Li Auto
posted fourth-quarter earnings with better-than-expected growth and more growth coming.
BYD
stock was up 1.8% in Hong Kong trading and
Li Auto’s
American depositary receipt was up 8.9%.
Shares of other Tesla peers were also moving.
NIO
shares were up about 1.9% in early trading, and
Ford Motor
Ford Motor
stock was flat.
General Motors
stock was down 0.2% while
Lucid
Lucid
stock was up 2.7% in premarket trading.
Rivian
shares were also up, by 2.3%.
Tesla stock is well off its 52-week high of $299.29, set last summer.
Trading volume of 78.84 million remained 31.96 million below its 65-day average volume of 110.8 million.
Write to Rupert Steiner at rupert.steiner@barrons.com
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