XPEV - Hot Stocks: TSLA continues rebound; XPEV falls on price cut; RBLX rallies; TRV drops

The electric vehicle sector was in focus during Tuesday's midday trading. Tesla ( TSLA ) continued to bounce back from its recent lows, reaching its highest level so far in 2023. Meanwhile, Xpeng ( NYSE: XPEV ) slumped in intraday action after announcing a price cut.

Elsewhere in the market, Roblox ( RBLX ) rallied after unveiling strong December performance stats. At the same time, Travelers ( TRV ) lost ground in the wake of an earnings preannouncement.

Gainers

Tesla ( TSLA ) edged higher in midday trading, adding to a recent rebound. This came as a handful of analysts highlighted the firm's long-term opportunity , even as they warned about near-term challenges.

TSLA climbed more than 4% in intraday action, adding to a rebound that has marked much of the early going in 2023. Elon Musk's EV maker reached a 52-week low of $101.81 in the first week of January. Overall, the stock has climbed 18% since the end of 2022 and is on track for its highest close of 2023.

Meanwhile, robust December metrics encouraged midday strength in Roblox ( RBLX ). The stock jumped almost 11% on the news.

RBLX reported 61.5M daily average users in December. This was up 18% from the same period last year. On the revenue front, the online video game platform estimated a top-line figure of $189M-$199M for December, down between 1% and 6% from the same period last year.

Decliners

Travelers ( TRV ) slipped in intraday trading after preannouncing weak Q4 results , noting that results were impacted by a severe winter storm in December. The insurance firm said it expected Q4 core EPS of $3.40. Analysts were looking for a figure of $4.04.

TRV dropped almost 6% in midday trading to fall below $183. This took the stock off a recent 52-week high of $194.45. Even with the slide, the stock remains higher by about 18% over the past 6 months.

Following up on similar moves by Tesla and other players in the industry, Chinese EV maker Xpeng ( XPEV ) announced that it was cutting the price of its P7 sedan. The new price is about 13% lower than the previous mark. The stock fell about 8% on the news.

To track Wall Street's best- and worst-performing stocks throughout the session, head over to Seeking Alpha's On The Move section .

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