XPeng Signals EV Stock Weakness, but Don't Miss Tuesday's Big Winner
After a solid summer rally, the stock market gave back some ground on Monday. However, the mood on Wall Street looked a little bit better on Tuesday morning, as many investors waited patiently to see what the Federal Reserve would discuss about its future monetary policy at its symposium later this week. As of 8:45 a.m. ET, futures contracts on the Dow Jones Industrial Average (DJINDICES: ^DJI) had risen 25 points to 33,081. S&P 500 (SNPINDEX: ^GSPC) futures had picked up 4 points to 4,145, and Nasdaq Composite (NASDAQINDEX: ^IXIC) futures had gained 20 points to 12,930.
The electric vehicle space has gotten a lot of attention lately, and EV stocks have gotten a ton of interest from investors in recent years. That makes financial reports from top players in the industry important, and this morning's news from Chinese EV company XPeng (NYSE: XPEV) dampened enthusiasm about the state of the industry. However, a stock from the biotech space, Aerie Pharmaceuticals (NASDAQ: AERI), looked poised to be the big winner of the day. Below, you'll learn more about both companies and their future prospects.
Shares of XPeng were down between 4% and 5% in premarket trading on Tuesday morning. The Chinese EV company reported second-quarter financial results that didn't live up to the high expectations shareholders have had of the electric vehicle maker.
Source Fool.com
