Why Shares of Electric Vehicle Maker XPeng Soared Today
Many electric vehicle (EV) stocks are rebounding today, after an extended stretch of falling prices. The stock of Chinese EV maker XPeng (NYSE: XPEV) went through its own correction with a more than 20% drop for December. But shares are leading the sector rebound today with a gain of about 10% as of 3:05 p.m. ET.
The bounce in XPeng shares today didn't come from a specific company announcement. But the automaker has announced several positive news items recently. Vehicle deliveries in November were a record 15,613. That was a jump of 270% over the year-ago period. And 2021 deliveries have increased 285% year over year.
Source Fool.com
