Why Xpeng Stock Was Winning This Week
Chinese electric vehicle (EV) and hybrid maker Xpeng (NYSE: XPEV) could soon expand its business dramatically, and that possibility is attracting investors to its equity. They were driving its U.S.-listed American Depositary Shares (ADSes) up by 15% week to date as of early Friday morning, according to data compiled by S&P Global Market Intelligence.
Shortly before market open Thursday, Bloomberg reported that Stellantis -- a vehicle conglomerate with a bulging portfolio of brands including Jeep, Chrysler, and Peugeot -- is exploring potential deals with Chinese auto makers. Citing unnamed "people familiar with the matter," the financial news specialist wrote that Stellantis is seeking investors for its European operations.
Image source: Getty Images.
Source Fool.com
