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Why XPeng Stock Tumbled 12% Today

TheMotleyFool

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Shares of XPeng (NYSE: XPEV) declined 11.5% through 10:20 a.m. ET after XPeng missed Wall Street forecasts for its first-quarter 2023 earnings this morning.

Heading into the quarter, analysts had predicted this Chinese electric vehicle manufacturer would lose only $0.26 per share on $741 million in quarterly sales. In fact, XPeng reported a loss of $0.37 per share, and its sales were only $590 million.

It gets worse.

Source Fool.com

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