Xpeng stock (NYSE:XPEV) was trading on Friday at $8.12 as of 01:53 PM EDT.
A Chinese news source reports that Xpeng (NYSE:XPEV) will restructure its company to increase operational effectiveness and cut expenses.
According to the source, the organizational changes started on Friday and have an effect on the user development and service center as well as the business unit of the automobile. As the business silos are reformed, a number of top executives will also have their duties changed.
According to the newspaper, once the full reorganization plans are clear, the next week should bring news of more important changes. China has the most people and the second-largest economy in the world. It has a thriving urban middle class and a lot of entrepreneurs. Many Chinese stocks, from many different industries, are often among the best-performing stocks at any given time.
Because of China’s “zero-COVID” policy, significant limitations or closures are seldom more than a few cases away. After COVID cases started happening again, some places put lockdowns or other strict rules back in place. In Beijing, cases reached their highest point in four months. However, there are also rumors that China may relax its guest quarantine policies.
Future of the Xpeng Stock
Investors in XPeng (NYSE:XPEV) have gone through one of the worst moments of the year 2022 as XPEV has lost more than 75% of its value since our warning in June. Investors didn’t like that Chinese President Xi Jinping wanted to run for a third term, which had never happened before. The general market de-rating in Chinese stocks also hurt XPeng.
We talk about how investors need to rethink their XPeng thesis because the market has probably “pushed” it out of the way in preparation for more fierce competition headwinds.
Despite the sharp selloff, we explain why it is not a good idea to purchase the dips right now. As a result, we advise investors to keep a distance and observe XPEV’s activities.
Xpeng Stock Rises In Wake Of Launch Of The City NGP Pilot Program
Featured Image- Megapixl @ Rafaelhenriquepress
Author Shariq Khan 
