Just yesterday, we highlighted an opportunity in XPeng (XPEV).
We noted, “After running from $22.50 to $44.32, XPEV is consolidating at the moment. From here, we’d like to see a potential breakout with a test of $50. It should also be nearing June 2021 delivery results, after a blockbuster May report. For that month, it delivered 5,686 vehicles, which was a 483% increase year over year. Year to date deliveries are up 427%.”
This morning, the XPEV stock is up to $45.24 after reporting record June deliveries.
For the month, the company reported:
- 6,565 vehicles delivered in June, a record month with a 617% increase year-over-year
- 17,398 vehicles delivered in 2Q, a record quarter with a 439% increase year-over-year
- 4,730 P7s delivered in June 2021, the highest monthly deliveries since the P7’s launch
- 30,738 total vehicles delivered year-to-date, a 459% increase year-over-year
Plus, according to the company’s press release, It “plans to launch the G3i SUV, the new mid-phase facelift version of G3, in July 2021, with deliveries planned for September this year. XPeng also plans to launch its third production model, the P5 family-friendly smart sedan, in the third quarter 2021 with deliveries expected in the fourth quarter 2021. Upon delivery, the P5 will be the world’s first mass-produced Smart EV equipped with auto-grade LiDAR technology.”
While the stock is seeing a “sell the news” reaction at the moment, any weakness may be an opportunity. In fact, the stock has a good history of running prior to its monthly reports.