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Why is XPeng Inc ADR (XPEV) Stock down?
Shares of XPeng Inc ADR (XPEV) dropped by 4.19% from $16.70 to $16.00 in the trading on Thursday, December 7, 2023. The reason why XPEV is down today is due to the company's announcement on Wednesday regarding a strategic minority investment by Volkswagen and its affiliate, Volkswagen Finance Luxemburg. Xpeng issued 94,079,255 Class A ordinary shares to Volkswagen Nominee at a purchase price of US$15 per ADS, totaling approximately US$705.6 million. Additionally, an individual nominated by Volkswagen Nominee will serve as a non-voting observer on Xpeng's Board. The companies are also making progress on joint development of two B-class battery electric vehicle models and exploring further collaboration in Smart EV technologies. The market reaction reflects investor sentiment and potential uncertainties surrounding this partnership.
Shares of Xpeng Inc (XPEV) dropped by 6.67% from $17.39 to $16.23 in the trading on Thursday, Novemeber 16, 2023. The reason why XPEV is down today is due to economic impact and mixed Q3 earnings.
- Economic influence: Broader economic factors played a pivotal role in the stock's decline. The Dow Jones Industrial Average faced a decrease following the release of higher-than-expected initial jobless claims data. The Labor Department reported a rise in first-time jobless claims to 231,000, surpassing expectations of 222,000 and increasing from the previous week's 217,000. Despite this, there was an unexpected improvement in the Philadelphia Fed manufacturing index, which recorded a reading of -5.9 in November compared to October's -9.0, defying expectations of a further decrease to -11.0. These economic fluctuations contributed to the decline in XPEV's stock.
- Mixed Q3 earnings: Xpeng reported mixed results for the third quarter, with some positive and negative aspects. While the company nearly doubled its revenue forecast for the final quarter of 2023, it also reported a wider-than-expected loss. Negative gross margins continued to be a concern, although there was a slight improvement from the previous quarter. XPEV's struggle with increased competition in the electric vehicle (EV) market, particularly from players like Tesla , which has been aggressively reducing prices, contributed to concerns among investors. The ongoing price war in the Chinese EV market has further pressured margins and created uncertainty in the sector.
Xpeng Inc Stock (XPEV) dropped by 10.27% from $15.38 to $13.80 in the trading on Wednesday October 18, 2023. The reason why XPEV stock down today is due to overall market weakness in both China and the US. The S&P 500 and Nasdaq 100 are in the red today, affecting the performance of XPEV stock. The decline has been exasperated by the CSI 300 Index closing down by almost 1%, marking its lowest price level in almost a year. Meanwhile, the Shanghai Composite Index closed at its lowest level since last December.
Xpeng Inc Stock (XPEV) dropped by 10.30% from $18.16 to $16.29 in the trading on Monday October 9, 2023. The reasons why stock XPEV down today is due to the large export to Israel. On Sept. 27, the Chinese EV maker said it sent 750 vehicles to Israel, its largest single export batch of 2023. The models delivered were the P7 and G9.
Xpeng's share fell 10.56% as UBS downgraded its rating from Buy to Neutral, citing the belief that the potential gains from the Volkswagen partnership and G6 momentum have already been priced into the stock.
Xpeng's shares dropped 7.33% on Thursday since its delivery broke down during the period June 19 - Jul 2. In addition, XPEV print ~4 million shares at $15.15. This is the largest print ever seen.
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