Here’s Why the XPEV Stock is Breaking Out

0
410

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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here