Bank of America Remains Positive on Xpeng (XPEV) Following Technology Day
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Deutsche Bank Unsurprised Following Tesla (TSLA) Price Cuts
October 25, 2022 7:21 AM EDTShares of Tesla (NASDAQ: TSLA) are down 0.73% in pre-market trading on Tuesday after price cuts saw the electric vehicle stock close at 211.25 on Monday, down 1.49%. Chinese electric vehicle stocks followed suit with declines averaging 15% compared to the NASDAQs +1%. Deutsche Bank attributes this weakness to negative surprise around the new Chinese leadership selection, lack of updates surrounding COVID zero policies, and concerns following Teslas price cuts.
Tesla lowered the domestic China price for their Model 3 and Model Y by around 5% on Monday. The cuts were not unexpected and should not come... More
U.S. Listed Chinese Stocks Tumble On Concerns About Xi's Third Term
October 24, 2022 12:02 PM EDTChinese companies listed on U.S. exchanges experienced a sharp decline on Monday due to investor worries that Chinese President Xi Jinping's policies, which have resulted in a slowing economy, will continue.
Xi Jinping was confirmed as leader of the CCP for a third five-year term. There has been a... More
XPeng Inc. (XPEV) call put ratio 2.4 calls to 1 put as shares sell off 19%
October 24, 2022 10:50 AM EDTXPeng Inc. (NYSE: XPEV) 30-day option implied is at 114; compared to its 52-week range of 59 to 129 after Chinas Xi expands power as head of Chinas ruling power. Call put ratio 2.4 calls to 1 put as shares sell off 19%
... MoreXPeng (XPEV) Announces Comprehensive Organizational Restructuring
October 24, 2022 9:30 AM EDTHe Xiaopeng, chairman and CEO of Xpeng Motors (NYSE: XPEV), sent an email to employees Friday announcing that the electric vehicle company would be going through a comprehensive organizational restructuring.
The CEO presided over management meeting for several days recently, reflecting and discussing key issues... More
Tesla (TSLA) Falls 3% After Cutting Prices in China, Analyst Expects Volume Sales to Improve
October 24, 2022 6:17 AM EDTTesla (NASDAQ: TSLA) announced today it slashed prices of China-made basic Model 3 and Model Y.
Model 3 will now start from 265,900 yuan (down from 279,900) while Model Ys new price is 288,900 yuan, down from 316,900. These cuts partly offset price hikes imposed earlier this year.
Lower prices may be a result of the slowing demand for EVs in China after recent media reports suggested wait... More
China ADRs tumble as Xi's new team sparks worries over economy's path
October 24, 2022 5:59 AM EDTBy Medha Singh
(Reuters) -U.S.-listed shares of Chinese companies slumped on Monday after President Xi Jinping's new leadership team sparked investor concerns that ideology-driven policies would be prioritized at the cost of private sector growth.
Ecommerce giants Alibaba, JD.com as well as internet behemoth Baidu crashed between 14% and 17%, even as the benchmark S&P 500 edged higher.
The iShares MSCI China ETF tanked 10%, tracking its steepest one-day drop ever.
"The concern... More
