XPEV - XPeng Is Charging Higher but This Biotech Stock Is Monday's Biggest Winner
2023-04-17 08:58:56 ET
The stock market has been on alert for weeks now in anticipation of the beginning of earnings season. Last week's slate of releases from banking stocks gave investors somewhat of a mixed picture, as the largest financial institutions held up well but suffered significant declines in deposits. Coming out of the weekend, market participants seemed to be in a positive mood, with stock index futures inching higher in premarket trading Monday morning.
A couple of stocks stood out with big gains, though, and Chinese electric vehicle company XPeng (NYSE: XPEV) was one of the best-known stocks on the rise early Monday. However, a smaller company in the biotech stock space had even bigger gains. Read on to learn more about XPeng and then find out about Monday's biggest winning stock.
Shares of XPeng rose 11% in premarket trading on Monday morning. The Chinese "smart" electric vehicle company told investors about a key initiative that it hopes will help reduce costs and be more competitive in the rapidly growing EV market in the world's most populous nation.
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XPeng Is Charging Higher, but This Biotech Stock Is Monday's Biggest Winner