XPEV - XPeng Stock Is Crashing Today: Is It a Buy?
Chinese stocks suffered their worst single-day sell-off since 2008 on Monday, and XPeng (NYSE: XPEV) stock is seeing a dramatic pullback. The China-based electric vehicle (EV) company's share price was down roughly 13.9% as of 2:30 p.m. ET.
The market is worried that China's close ties with Russia could lead to sanctions, an increased likelihood of stocks being delisted from U.S. exchanges, and other developments that would negatively impact investors. In addition to these bearish catalysts, China is also facing the rapid spread of the coronavirus omicron variant and has implemented lockdowns and other measures to curb the outbreak.
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XPeng Stock Is Crashing Today: Is It a Buy?