NVAX - XPEV Stock Alert: What to Know as Xpeng Reports February Vehicle Deliveries
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Xpeng (NYSE:XPEV) stock is worth checking on Wednesday after the EV company released delivery data for February.
During February 2023, Xpeng delivered a total of 6,010 Smart EVs. That’s positive news for holders of XPEV stock as it represents a 15% increase in deliveries when compared to January 2023 delivery data.
Xpeng notes that this increase in deliveries comes as it seeks to expand its business locally and internationally. That saw the EV company open its second retail locations in both Denmark and the Netherlands in February.
Finally, Xpeng is introducing more areas with smartEV support, which it hopes will help increase orders. That includes support for the feature in several Chinese cities. Among these is Shenzhen and Shanghai.
China Helps Rally XPEV Stock
Outside of the delivery news, China also reported strong economic data today. This has several companies in the country seeing their shares gain on Wednesday. XPEV stock is among these, as is rival Chinese EV company Nio (NYSE:NIO).
As far as stock movement goes today, shares of XPEV have seen some 1 million units change hands as of this writing. For comparison, the company’s daily average trading volume is well above that at almost 22 million shares.
XPEV stock is up 2.6% in pre-market trading on Wednesday but is down 12.4% year-to-date.
Investors can keep reading for all of the most recent stock market news today!
We’ve got all of the hottest stock market coverage traders need to know about on Wednesday! A few examples include why shares of Novavax (NASDAQ:NVAX), OKYO Pharma (NASDAQ:OKYO), and OncoSec Medical (NASDAQ:ONCS) stock are moving today. That news is ready to go at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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