Stock Track | XPeng Shares Tumble as Chinese Stocks Suffer Broad Sell-Off

Stock Track07-23

Shares of XPeng Inc. (XPEV), a leading Chinese electric vehicle manufacturer, plunged 5.28% during intraday trading on Monday, as U.S.-listed Chinese stocks experienced a broad sell-off amid fragile investor sentiment in the Chinese market.

The decline in XPeng's stock price was part of a broader downturn in Chinese equities, which recorded their biggest single-day drop in six months. Despite ongoing stimulus efforts by Chinese authorities, investors remained cautious, leading to a widespread sell-off across various sectors.

While XPeng did not face any company-specific negative news, the overall market sentiment weighed heavily on the stock. Other U.S.-listed Chinese companies, including e-commerce giants Alibaba and JD.com, gaming firms Bilibili and NetEase, and electric vehicle makers Li Auto and Nio, also experienced significant declines during the morning trading session.

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