China EV Maker XPeng’s 92% Surge Has Short Sellers Piling In

Bloomberg2023-07-04

Short interest on XPeng’s Hong Kong shares rise to a recordThe stock is also the most volatile among HSCEI membersBearish bets on Chinese electric vehicle maker XPeng Inc. have reached a record high ...

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Wenmoon
2023-07-05
Wenmoon
Good opportunity to short this poor company to death 😁

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The Guangzhou-based automaker’s stock has surged 92% since a low on June 1 to reach overbought territory, before sliding as much as 8.4% on Tuesday. Chinese EV makers have been rallying on optimism over the government’s push to expand purchases, making the sector a rare bright spot in the sluggish stock market. While peers Li Auto Inc. and Nio Inc. have also gained more than 30% each since the start of June, XPeng has outperformed as analysts praised the competitive pricing strategy of its new G6 electric SUV model, unveiled last week. Sentiment seems to be turning cautious following overheated signs in the rally and worries over the toll of an intensifying price war. The ratio of sell ratings on XPeng edged higher in June to 13.3% from 12.5% a month earlier, according to analyst recommendations tracked by Bloomberg. 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