Why EV Stocks Plunged on Wednesday [Yahoo! Finance]
XPeng Inc. American depositary shares, each representing two Class A ordinary shares (XPEV)
Company Research
Source: Yahoo! Finance
Michael Lohscheller was named CEO, but he won't be able to fix the company's problems very quickly or change industry dynamics. Polestar's shares fell as much as 18.6% in trading today. Xpeng (NYSE: XPEV) was down 10.5% and Lucid Automotive (NASDAQ: LCID) fell 6.8%. At the close of trading, the three stocks were down 16.4%, 9%, and 4.1% respectively. Polestar's leadership change Lohscheller comes to Polestar with plenty of auto industry experience, but not a lot of success. He was previously CEO of Opel, VinFast, and Nikola -- not exactly the leading giants of the industry. He also takes over as global demand growth for electric vehicles is coming down and competition is getting fierce. Not only are the EV-focused companies facing losses, which you can see below, but the drop in stock prices makes it more difficult to raise capital to fund growth aspirations. Canada's tariffs on Chinese EVs Xpeng was hurt today by the news that Canada will add a 100% tariff to Chinese-made
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High impacting XPeng Inc. American depositary shares, each representing two Class A ordinary shares news events
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XPEV
News
- Is XPeng Inc. (NYSE:XPEV) The Worst Chinese Stock to Buy Right Now According to Short Sellers [Yahoo! Finance]Yahoo! Finance
- XPeng: Inferior EV Investment Choice [Seeking Alpha]Seeking Alpha
- Wall Street analysts increasingly bullish on Nio stock after a 50% YTD drop [Yahoo! Finance]Yahoo! Finance
- XPeng Inc. (NYSE: XPEV) was upgraded by analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating. They now have a $11.50 price target on the stock, up previously from $8.00.MarketBeat
- XPENG Announces Vehicle Delivery Results for August 2024GlobeNewswire
XPEV
Earnings
- 11/15/23 - Beat
XPEV
Sec Filings
- 9/13/24 - Form F-6EF
- 9/13/24 - Form S-8
- 9/4/24 - Form 144
- XPEV's page on the SEC website