Tesla’s ‘watershed’ moment in China helps lift Chinese electric vehicle stocks

News Snapshot:

Tesla (NASDAQ:TSLA) ripped a 9.16% gain in premarket action to trade at its highest level since March 1. Elon Musk's weekend visit to China and reports that the company will partner with Baidu (BIDU) on mapping data collection have sparked the rally. Wedbush Securities analyst Dan Ives said the long awaited FSD approval in China could be a watershed moment for Tesla (TSLA). "While the long term valuation story at Tesla hinges on FSD and autonomous, a key missing piece in that puzzle is Tesla making FSD available in China which is now a done deal. We note Tesla has...