XPeng stock falls into bear-market correction territory

Shares of XPeng Inc.

sank 9.0% in premarket trading Wednesday, which puts them on track for a bear-market correction. The China-based electric vehicle maker’s stock, which was headed for a third-straight drop, was set to open about 22% below the July 28 11-month high of $23.39. Many on Wall Street define a bear market as a decline of 20% or more from a significant bull-market peak. At the July 28 peak, the stock had skyrocketed 197% since it closed at a six-month low of $7.87 on May 30.

sank 9.0% in premarket trading Wednesday, which puts them on track for a bear-market correction. The China-based electric vehicle maker’s stock, which was headed for a third-straight drop, was set to open about 22% below the July 28 11-month high of $23.39. Many on Wall Street define a bear market as a decline of 20% or more from a significant bull-market peak. At the July 28 peak, the stock had skyrocketed 197% since it closed at a six-month low of $7.87 on May 30.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

AMD shares rise as chipmaker tops expectations, Starbucks shares fall and other stocks on the moveAMD, Match Group, Starbucks and Electronic Arts are on the move.
Source: MarketWatch - 🏆 3. / 97 Read more »

Generac’s stock drops as softer consumer backdrop helps spark mixed earningsGenerac Holdings Inc. shares were falling more than 3% in premarket trading Wednesday after the company, which sells generators and other backup power...
Source: MarketWatch - 🏆 3. / 97 Read more »