Stock price swings as profit margin cutbacks clash with a US$700 million investment from Volkswagen.
Xpeng is the third most volatile Chinese stock after debt-laden Country Garden Holdings due to uncertainty.
That’s a gain of 169% or decline of 75% as of the stock’s Friday close. Between June and July, the shares surged nearly 180% before falling 30% over the next three weeks. That’s led to a gap of some US$31 billion in market value in Hong Kong between the two price target extremes for the company, highlighting the uncertainty amid a slowing economy.
For bulls, analysts say the company’s efforts toward developing autonomous driving software and its recent deal to team up with Volkswagen AG is helping boost faith in future performance. An upgrade last month by HSBC Holdings Plc should boost prospects.
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