XPEV Stock Alert: XPeng Charges Up on Move Into Hong Kong, Macau

Chinese electric vehicle (EV) maker XPeng (NASDAQ:XPEV) signed dealer agreements to sell its cars in Hong Kong and Macau. The announcement sent XPEV stock up 9% on April 9, but it fell back 1% overnight.It’s the company’s first move within China but beyond the mainland.XPEV stock opened in New York on April 10 at about $8 per share, a market capitalization of $8 billion. The stock is down 45% so far in 2024.Baby StepsWhile analysts approved of the move, it won’t solve XPeng’s competitive problems. That’s be ...