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Why XPeng Stock Is Rising Fast Today

Why XPeng Stock Is Rising Fast Today

Shares of XPeng (NYSE: XPEV), a Chinese electric-vehicle (EV) maker, were soaring today, as some investors grew optimistic that COVID-related protests in China could encourage the government to ease away from its strict policies. Investors are hoping that the protests could lead to an easing of the policies and make it easier for XPeng and other Chinese companies to conduct business. The disruptions in the country had led many investors to ditch Chinese stocks over the past year and have been part of the reason why XPeng's share price is down 85% year to date.