Why XPeng Shares Are Moving

XPeng Inc – ADR XPEV shares are trading lower by 3% to $10.29 during Wednesday’s session. Shares of US-listed Chinese stocks are trading lower after China missed GDP and retail sales estimates.

The EV space may also be down in continued reaction to recent Tesla Inc price cuts in China. Tesla decreased prices for its entry-level Model 3 rear-wheel drive in China by 6%, now priced at 245,900 yuan, and the long-range version at 285,900 yuan.

What’s Going On In China?

China’s Premier, Li Qiang, addressed the World Economic Forum in Davos, expressing confidence in China’s economy and its resilience to performance fluctuations.

He disclosed an early projection for China’s GDP growth in 2023, indicating a rate of approximately 5.2%, surpassing the targeted 5% before official figures are released…Read More

According to data from Benzinga Pro, XPEV has a 52-week high of $23.62 and a 52-week low of $7.50.