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A new Chinese EV stock jumped 30% after its IPO.
Zeekr (NYSE: ZK) opened for trading this afternoon.
Zeekr is working on a Robotaxi with Google. And they’re racing to catchup with Tesla’s new Robotaxi initiative.
Go here to discover how Elon Musk plans to crush this stock.
The Zeekr IPO was priced at $21. And the stock began trading at $26.
The company raised $441 million in capital through the Initial Public Offering.
Investors were excited for the IPO. And the deal was oversubscribed.
The IPO values Zeekr at around $6.4 billion.
Most Americans have never heard of Zeekr.
The company is a rapidly growing Chinese EV company.
They sold 49,000 EVs during the first 4-months of 2024. That marked a 111% increase in the last year.
Total deliveries this year should reach 230,000 – double the number sold last year.
It’s unlikely that Zeekr EVs will be sold in the U.S.
There’s currently a 25% tariff on Chinese EVs. And President Biden plans to increase that to 100% next week.
That move would make it cost-prohibitive for Chinese EVs to be sold in the U.S. market.
Zeekr may be getting a boost on its IPO day. However, Chinese EV stocks have been a horrible investment in recent years.
Zeekr is scrambling to catchup with Tesla on its self-driving and Robotaxi initiative. And that’s why it’s working with this secret technology partner.
Every automaker realizes that self-driving cars are coming soon.
That’s why I’m BUYING these undiscovered tech stocks right now.
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Ian