Why XPeng Stock Is Rising Fast Today
Shares of XPeng (NYSE: XPEV), a Chinese electric-vehicle (EV) maker, were soaring today, as some investors grew optimistic that COVID-related protests in China could encourage the government to ease away from its strict policies. As a result, the EV stock was up by 8.1% as of 11:19 a.m. ET.
China has implemented restrictions and lockdowns on its citizens since the pandemic began, but citizens in the country are beginning to push back on the policies. The lockdowns have resulted in significant disruptions to companies and businesses, including EV production. Investors are hoping that the protests could lead to an easing of the policies and make it easier for XPeng and other Chinese companies to conduct business.
The disruptions in the country had led many investors to ditch Chinese stocks over the past year and have been part of the reason why XPeng's share price is down 85% year to date.
Source Fool.com
