Why XPeng Stock Is Plummeting Today

The stock of XPeng (NYSE: XPEV) is falling precipitously today. The China-based electric vehicle (EV) company's share price was down roughly 13.3% as of 1:45 p.m. ET Monday.

There doesn't appear to be any negative business-specific news driving the big sell-off, but the broader market is seeing a day of bearish pressures, and Chinese stocks are being hit particularly hard. Concerns about the spread of the coronavirus omicron variant in China, the country's ties with Russia, and other factors are prompting a dramatic pullback for companies listed on the Hong Kong exchange, and XPeng is being caught up in the pullback.

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