Even with potentially good news for investors in XPeng (NYSE: XPEV), some more big-picture concerns drove shares of the Chinese electric-vehicle (EV) maker lower today.
Shares of XPeng dropped as much as 10%, before closing Tuesday's trading session down 8.3%.
Recent positive news for XPeng stock was being overshadowed today by more macro concerns leading to risk aversion in many global markets. Two weeks ago, Xpeng said it was being included in the Shenzhen-Hong Kong Stock Connect program. This opened up the stock to be owned by more qualified investors in mainland China. And over the weekend, the company said it will be included in Hong Kong's Hang Seng Tech Index as a constituent stock, beginning March 7.
Source Fool.com