Why XPeng, Li Auto, and Even Cleveland-Cliffs Stocks Soared This Week [Yahoo! Finance]
XPeng Inc. American depositary shares, each representing two Class A ordinary shares (XPEV)
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Source: Yahoo! Finance
That came after China's central bank initiated new stimulus packages and followed the U.S. Federal Reserve 50 basis point cut in interest rates last week. China's central bank didn't just act on interest rates. It moved to bolster business and consumer activity by cutting interest rates on existing mortgages and the reserve requirement ratio for banks by 50 basis points. The latter will free up meaningful amounts of money for lending. Government leaders followed up on the bank moves, showing support for the economy and the stock market. That all led to the soaring of shares of China-based electric vehicle (EV) makers listed on U.S. exchanges That included XPeng (NYSE: XPEV) and Li Auto (NASDAQ: LI) , which were higher for the week by 27.4% and 17%, respectively, as of Friday morning, according to data provided by S&P Global Market Intelligence . Investors also pushed shares of U.S.-based steelmaker Cleveland-Cliffs (NYSE: CLF) higher by 10.4%. While that might not seem related, it
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High impacting XPeng Inc. American depositary shares, each representing two Class A ordinary shares news events
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News
- XPeng Inc. (NYSE: XPEV) was downgraded by analysts at The Goldman Sachs Group, Inc. from a "buy" rating to a "neutral" rating. They now have a $12.50 price target on the stock.MarketBeat
- XPeng Inc. (NYSE: XPEV) had its price target raised by analysts at Sanford C. Bernstein from $9.00 to $14.00. They now have a "market perform" rating on the stock.MarketBeat
- XPeng Inc. (NYSE: XPEV) had its price target lowered by analysts at Citigroup Inc. from $14.60 to $13.70. They now have a "neutral" rating on the stock.MarketBeat
- XPeng Inc (XPEV) Q3 2024 Earnings Call Highlights: Record Deliveries and Margin Improvements ... [Yahoo! Finance]Yahoo! Finance
- What's Going On With NIO Stock Following Strong Q3 Results From Top Peer XPeng? [Yahoo! Finance]Yahoo! Finance
XPEV
Sec Filings
- 11/19/24 - Form 6-K
- 11/13/24 - Form SC
- 11/1/24 - Form 6-K
- XPEV's page on the SEC website