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Why XPeng Shares Popped Today

TheMotleyFool

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The stock of Chinese electric car maker XPeng (NYSE: XPEV) got a boost Wednesday morning when the company announced a change in the availability if its shares to Chinese investors. XPeng's American depositary shares popped over 11% in early trading, and still held a gain of 6.2% as of 10:28 a.m. ET.

Effective today, XPeng's ordinary shares trading on the Hong Kong exchange have been included in a trading link called the Shenzhen-Hong Kong Stock Connect program. The inclusion allows qualified investors in mainland China an easier way to own XPeng stock. This opens up the investor base for the company within certain requirements of the program including daily trading quotas.

Source Fool.com

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