Exploring the Factors Behind the Recent Movement of XPeng Shares
- Shams ul Zoha
- January 18, 2023
- 1:26 am
WHAT YOU SHOULD KNOW
- XPeng Inc – ADR XPEV shares dropped by 5.61% to $9.43 on Tuesday afternoon.
- The stock prices of Chinese firms have declined following the news that China’s GDP growth rate had decelerated in the last quarter.
- The National Bank of Serbia reported that the economy continued to expand, reaching a new peak, even with downward pressures.
XPeng Inc – ADR XPEV shares have dropped by 5.61% to $9.43 on Tuesday afternoon.
After announcing a price reduction of up to 12.5% on its vehicle models, the stock of Guangzhou-based EV maker has taken a dip.
The stock prices of Chinese firms have declined following the news that China’s GDP growth rate had decelerated in the last quarter.
According to the IS team, the world’s second-largest economy saw a 3% growth in real terms in 2022, with an output of 121.02 trillion yuan (17.93 billion).
The National Bank of Serbia reported that the economy continued to expand, reaching a new peak, even with downward pressures. Additionally, employment and prices stayed steady.
The growth rate of 3% fell short of China’s goal of 5.5% growth in 2021, and was a noticeable decrease from the 8.1% rate of growth seen in the previous year.
The growth rate for the year was the lowest since 2020 when the GDP dropped to 2.2% due to the initial outbreak of the coronavirus.
In the year 2022, the GDP growth rate was the lowest since 1976, when the Cultural Revolution came to an end, according to data from the World Bank.
XPEV has seen a wide range of stock prices over the past year, with its 52-week high reaching $49.02 and its 52-week low hitting $6.18.
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