Zeekr/Geely shares rocket higher in biggest IPO since Didi. Despite risks, investors see big upside

Geely's luxury EV Zeekr soared in its IPO in US markets, far exceeding the top end of the range underwriters expected.

Geely is a Chinese holding company of some of the world's top car brands, including Volvo. Last month, their Volvo subsidiary in the US announced that they would import Chinese-built EV's into the US. Zeekr is a premium electric vehicle, comparable to luxury models. If Geely can perform similar magic with Zeekr and bring these vehicles to overseas markets, it will perhaps make Geely the most profitable automaker in the world.

Resources and links:

Real-time quote for Zeekr
https://finance.yahoo.com/quote/ZK

Bloomberg, Geely’s EV Maker Zeekr Tops US IPO Goal to Fetch $441 Million
https://www.bloomberg.com/news/articl...

American Depositary Receipts, definition and applications
https://www.investopedia.com/terms/a/...

Reuters, How Volvo landed a cheap Chinese EV on U.S. shores in a trade war
https://www.reuters.com/business/auto...