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XPeng outdriving Tesla on deliveries

Authored by ZanderVanDerMerwe
23.11.2021
Market Overview
0
2 min

Yesterday’s movers:

  • Yandex N.V. (YNDX) was down 10.11%
  • Airbnb Inc (ABNB) was down 7.48%
  • Moderna Inc (MRNA) was up 7.17%
  • Peloton Interactive (PTON) was down 6.49%

Earnings due today:

XPeng Inc. XPEV Pre-Market

Stocks to watch:

XPeng (XPEV)

The Chinese electric car manufacturer has been stuck in a range between $44 and $50 for the last month in a build up to the third quarter earnings that was set for release pre-market this morning.

Earnings beat expectations by $0.06 while Revenue beat expectations by $67.82 million up 187% year on year. Vehicle deliveries was up almost 200% year on year with an expectation that an additional 10 000 vehicles will be delivered above the previous quarters deliveries by the end of the fourth quarter.

Price is currently trading 4% up, overing near the $50 mark as its poised to break the range that it is trading in following positive earning and revenue reportas with a solid fourth quarter guidance that was released.

Authored by ZanderVanDerMerwe
23.11.2021
Market Overview
0
2 min
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