Toyota stock price hits record high as Tesla, Nio, Xpeng nosedive

Toyota (NYSE: TM) stock price has surged to a record high even as most EV companies like Tesla, Nio, and Xpeng are languishing. The shares have risen in the past two straight weeks and moved to its highest point on record, valuing the Japanese automaker at over $268 billion. They have soared by over 60% from their lowest level in 2022.Tesla, in contrast, has plunged by over 50% from its all-time high and over 25% this year. Other EV stocks like Nio, Xpeng, Lucid, and Rivian have also plunged, costing invest ...