We recently published a list of 10 Firms Post Strong Gains Amid Wall Street Bloodbath. In this article, we are going to take a look at where Xpeng Inc. (NYSE:XPEV) stands against other firms post strong gains amid Wall Street bloodbath.
Wall Street’s main indices closed sharply in the red on Tuesday, as investors shifted to other higher-yielding assets following better Treasury yields.
The Nasdaq Composite led the drop, losing 1.89 percent, followed by the S&P 500 declining 1.11 percent. Meanwhile, the Dow Jones dipped by 0.42 percent.
Meanwhile, let us look at the ten firms that bucked an overall broader market downturn and posted notable gains and explore why.
To come up with Tuesday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A close-up of a luxury electric sports sedan, its sleek body reflecting the energy of progress.
Xpeng Inc. (NYSE:XPEV)
Shares of Chinese luxury automaker Xpeng Inc. (NYSE:XPEV) jumped by 9.45 percent or $1.11 to finish at $12.86 apiece following twin news of better vehicle deliveries and a partnership with Volkswagen to build a supercharging network for electric vehicles in China.
According to the company, deliveries in December alone spiked by 82 percent to 36,695, marking a 19-percent increase from November. Moreover, full-year 2024 deliveries stood at 190,068 units, a 34% increase from 2023.
Meanwhile, Xpeng Inc. (NYSE:XPEV) also sealed an expanded partnership with Volkswagen to expand their EV charging station partnership in China.
The German and Chinese automakers signed a memorandum of understanding in which they pledged to open their respective super-fast charging networks to each others’ customers.
The collaboration will see the establishment of more than 20,000 charging points in 420 cities across China.
Overall, XPEV ranks 6th on our list of firms post strong gains amid Wall Street bloodbath. While we acknowledge the potential of XPEV as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than XPEV but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.