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Why Nio, ChargePoint, and QuantumScape Stocks Rocketed Higher Today

Why Nio, ChargePoint, and QuantumScape Stocks Rocketed Higher Today

Shares of electric vehicle (EV) stocks were rising today as investors processed the latest inflation data, which was better than expected. Investors are hoping slowing inflation could spur the Federal Reserve to slow the pace and intensity of its interest rate hikes. EV investors were enthusiastic as well, with Nio's (NYSE: NIO) share price climbing 2.8%, EV charging company ChargePoint Holdings (NYSE: CHPT) rising 3.6%, and EV battery company QuantumScape (NYSE: QS) jumping 6.1% as of 1:50 p.m. ET.