XPeng Stock Has Dropped This Year. Its CEO Is Buying...

Valeria Mongelli / Anadolu via Getty Images

Key TakeawaysXPeng ADRs rose Monday after the Chinese electric vehicle maker said that CEO Xiaopeng He bought more than 2 million of the company's shares.XPeng said that He bought 1 million H-shares, traded on the Hong Kong Stock Exchange. He also bought 1.42 million U.S.-listed American depositary shares.XPeng shares are down almost 50% this year.
XPeng (XPEV) ADRs rose Monday after the Chinese electric vehicle (EV) maker said that Chief Executive Officer (CEO) Xiaopeng He bought more than 2 million of the company's shares.XPeng said that He bought 1 million H-shares at an average price of 27.13 Hong Kong dollars ($3.48), and 1.42 million American depositary shares (ADSs) at an average price (in U.S. dollars) of $7.02 between Aug. 21-23."Mr. He has also informed the Company that he plans to further increase his shareholding in the Company," the company's board said in a statement.CEO's Purchase Comes as XPeng Stock Is Down 50% This YearThe company earlier this month reported weaker-than-expected revenue, although it had a smaller-than-anticipated loss as it benefited from a deal with Volkswagen. XPeng collaborates with the German car manufacturer to co-develop electrical/electronic (E/E) architecture for Volkswagen vehicles made in China. XPeng's ADRs rose about 7% in morning trading Monday but are down almost 50% this year. Read the original article on Investopedia.

Welcome to Billionaire Club Co LLC, your gateway to a brand-new social media experience! Sign up today and dive into over 10,000 fresh daily articles and videos curated just for your enjoyment. Enjoy the ad free experience, unlimited content interactions, and get that coveted blue check verification—all for just $1 a month!

Source link

What's your thought on the article, write a comment

0 Comments

Sign In to perform this Activity

Account Frozen

Ads