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Why XPeng Stock Is Popping Off After Tesla Earnings

XPeng Inc – ADR (NYSE: XPEV) shares are trading higher by 4.81% to $10.24 Thursday afternoon. Shares of EV companies at large are trading higher during Thursday's session. Strength in the sector may be in sympathy with Tesla Inc (NASDAQ:
byHenry Khederian
January 26, 2023
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XPeng Inc – ADR (NYSE:XPEV) shares are trading higher by 4.81% to $10.24 Thursday afternoon. Shares of EV companies at large are trading higher during Thursday’s session. Strength in the sector may be in sympathy with Tesla Inc (NASDAQ:TSLA), which reported better-than-expected fourth-quarter results.

See Also: Tesla Q4 Earnings Highlights: Revenue And EPS Beat

Tesla Earnings Highlights, Recap

Tesla reported fourth-quarter revenue of $24.32 billion, which was up 37% year-over-year. The revenue total beat a Street estimate of $24.16 billion, according to data from Benzinga Pro. 

Tesla reported fourth-quarter adjusted earnings per share of $1.19, which beat a Street estimate of $1.13.

The company said the fourth quarter marked the highest revenue, operating income and net income in company history…Read More

XPeng has a 52-week high of $41.33 and a 52-week low of $6.18.

 
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The Dow Jones closed higher by more than 150 points on Friday. Investors, meanwhile, focused on some notable insider trades. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

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