If you’re looking for a stock to invest in, you should look at XPeng’s stock price. The company’s August delivery numbers don’t give you a clear picture of how things are going. In addition, its second-quarter 2022 results came in below analyst expectations. It may be wise to maintain a neutral stance until it can provide more data.
The XPeng stock price is currently at $7.16 and may rise as high as $8.27 in the next few days. However, if you want to be more conservative, you can consider buying XPeng stock at a price of $6.87. This is within the range of recent reports, which have indicated that the stock is currently worth $6.63. This is a good price range for this company. If you’d like to buy XPeng stock, keep in mind that it’s possible to lose a substantial amount.
A recent report from XPeng showed that the company delivered 90,085 smart EVs in the first eight months of 2022. The company has consistently increased its delivery rate and expects to reach 150,000 electric cars by 2022. Despite the positive results, the XPeng stock price didn’t rebound immediately following the release of the results. The company’s share price dropped by 2.2% on the news.
While the August delivery data is encouraging, there are other reasons to be cautious with XPeng’s stock price. First, XPeng has gone down a different road from its Chinese peers. Its EV model range is smaller than its competitors’. Furthermore, the company’s management guidance for Q2 2022 is well below expectations.
Second, XPeng is a smart electric car manufacturer based in China. Its shares are traded on the New York Stock Exchange (NYSE). Currently, it employs over 13,000 employees and has a trailing 12-month revenue of $29.2 billion. The company has been around since 2014 and has attracted institutional investors and retail investors alike.