The BYD company's Hong Kong shares significantly surpassed its onshore price, hitting a record premium. The company managed to reach a new 52-week high, leading to a surge in Hong Kong. As a result of a strong EV outlook, firms like Citigroup and UBS lifted their target for BYD. In Europe, BYD showcased outstanding performance, outselling Tesla and snatching Tesla's crown. Reports show that BYD's debut of its budget Dolphin Surf has impacted Europe's EV Market. Further boosting optimism, the EV maker revealed strong earnings, with its net income doubling and sales continuously growing. Despite BYD's stock dropping due to its first-quarter results, they are still highly optimistic, primarily driven by the company's innovations in ultra-fast charging technology, capturing the attention of potential investors. In the long-term outlook, BYD maintains its lead over other EV competitors such as Volkswagen and Tesla. However, despite its high-end forecast, there exists some risk as BYD propels to issue bonus shares for profit distribution. Lastly, Northen Trust Corp purchased shares of Boyd Gaming, fuelling a rise in BYD stock.
BYD Stocks News Analytics from Tue, 17 Dec 2024 08:00:00 GMT to Sat, 24 May 2025 12:16:24 GMT - Innovation 8 - Information 8