Top movers alert: BYD surges 4%, Nio drops 6.7% on November EV sales data
🔝 $BYD COMPANY(01211)$ shares surged as much as 4% this morning to HKD 101.90, trading above the HKD 100 price level for the first time since 17 Nov, while Chinese EV competitor $NIO Inc. USD OV(NIO.SI)$ shares' have tumbled as much as 7.2% to USD 5.17 as of 319PM today
✳Consequently, trending BYD call warrant $BYD MB eCW260602(VBFW.SI)$ (https://warrants.com.sg/tools/livematrix/VBFW) rose as much as 24.4% to SGD 0.056 this morning, while trending Nio Singapore call warrant $NIO MBeCW260520(9PGW.SI)$ (https://warrants.com.sg/tools/livematrix/9PGW) is down 20.4% to SGD 0.043 as of 319PM. There are no put warrants tracking either shares
🚙The price action in both shares is likely due to the November EV sales data released yesterday evening (after market) which showed Nio’s November deliveries declining to 36,275 from 40,397 in October, and BYD's Nov deliveries falling 5.3% to 480,186 vehicles
🅱BYD's deliveries however, beat expectations, with strong export sales fuelling sales. The company is on track to meet its target of 1 million EV exports in 2025
🗓The decline is particularly notable as it comes during what’s supposed to be a busy period. Consumers are expected to rush to showrooms in the final quarter to lock in purchases ahead of the Dec. 31 expiration of the country’s full new-energy vehicle tax exemption (Bloomberg)
🔧Investors expecting an uptrend in BYD and Nio's share prices can participate in the price action via Macquarie's BYD and Nio Singapore call warrants which are currently priced at SGD 0.052 and SGD 0.043 respectively, while moving 3 to 5 times more than the underlying share, based on their effective gearing levels
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