The U.S.-listed shares of Nio Inc. /zigman2/quotes/204905836/composite NIO -6.09% dove 4.8% in morning trading Monday, to buck the rally in the broader stock market, after fellow China-based electric vehicle maker XPeng Inc. /zigman2/quotes/219982686/composite XPEV -4.33% provided a disappointing second-quarter revenue outlook. Nio's stock drop comes after it had bounced 29.3% over the past seven sessions, off the 22-month closing low of $12.71 on May 11. Earlier Monday, XPeng reported a first-quarter loss that widened from year ago but beat expectations, as revenue more than doubled from a year ago but fell from the sequential fourth quarter, but also topped forecasts. For the second-quarter, however, that it expects revenue of RMB6.8 billion to RMB7.5 billion, which was below the FactSet consensus of RMB8.14 billion. XPeng's stock sank 7.5%, and rival Li Auto Inc. /zigman2/quotes/219811686/composite LI -3.50% shed 4.2%. And shares of Tesla Inc. /zigman2/quotes/203558040/composite TSLA -0.57% , which generated about 25% of its first-quarter revenue from China and about 26% of 2021 revenue from China, slipped 0.3% toward a 10-month low. Meanwhile, the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.36% surged 1.5% in morning trading.