Why XPeng Inc. (XPEV) Soared Last Week

We recently compiled a list of the 10 Companies That Performed Well Last Week. In this article, we are going to take a look at where XPeng Inc. (NYSE:XPEV) stands against the other stocks.

The stock market fell heavily into the red territory on Friday as investors sold off positions to mitigate risks from a series of macroeconomic factors.

The Dow Jones declined by 1.69 percent, the S&P dropped by 1.71 percent, and the tech-heavy Nasdaq nosedived by 2.20 percent.

Despite the broader market downturn, ten companies gained momentum, recording price growths on a week-on-week basis.

We have listed 10 companies that performed well last week. Note that shares performances were based on closing prices last Friday, February 21, as against their prices on February 14, or a week earlier.

To come up with last week’s advancers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A close-up of a luxury electric sports sedan, its sleek body reflecting the energy of progress.

XPeng Inc. (NYSE:XPEV)

XPeng Inc. (NYSE:XPEV) saw a 10.4-percent jump in its share prices week-on-week, finishing at $18.4 apiece on Friday versus the $16.66 registered on February 14, as share prices traded in line with its Chinese counterparts thanks to the boom in China’s AI and electric vehicles industries.

In recent news, XPeng Inc. (NYSE:XPEV) CEO He Xiaopeng announced that the company plans to double down on expansion plans to penetrate more countries by the end of the year.

“We are going to accelerate from the 30 countries and regions where we were present in 2024. This year, we will increase to 60 and will have established more than 300 after-sales service points worldwide,” he said.

Over the next 10 years, he said that the international markets are expected to power its sales.

The ambitious plan comes amid the European Union’s move to impose a 35.30-percent higher tariff on China-made electric cars, saying Beijing was unfairly undercutting European automakers.

Overall XPEV ranks 9th on our list of the companies that performed well last week. While we acknowledge the potential of XPEV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than XPEV but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.