Surprise! Electric Carmaker Xpeng to Issue More Shares
Chinese electric car maker Xpeng has announced an underwritten secondary offering of 40 million shares.
Chinese electric car maker Xpeng has announced an underwritten secondary offering of 40 million shares.
Thursday's top analyst upgrades and downgrades included CrowdStrike, Equinix, JPMorgan, Lyft, Snowflake, Splunk, Tesla, Xpeng and Zscaler.
Short interest in electric carmakers mostly increased in the two-week reporting period ended November 13. Soaring share prices brought out the short sellers.
Short interest was mixed on electric vehicle makers in the two-week reporting period ended October 30. Short sellers also decreased their positions in two traditional carmakers.
A Citigroup analyst on Wednesday raised his price target on one Chinese EV maker's stock and started coverage on two others. Short version: he likes what he sees.
Wednesday's top analyst upgrades and downgrades included Advanced Micro Devices, AGCO, Alibaba, Baidu, Honeywell, L3Harris Technologies, Mosaic, Peloton Interactive and Teradyne.
China's three top EV makers reported October deliveries Monday morning and all posted big year-over-year gains.
Short interest in electric vehicle makers was evenly mixed in the two-week reporting period that ended October 15. But a couple of truck makers got some bad news Monday.
Short interest increased on seven of eight carmakers in the two-week reporting period that ended September 30.
Friday's top analyst upgrades and downgrades included Baidu, Carnival, Costco, Coty, CSX, Darden, DraftKings, Fifth Third, Rite Aid and Unity Software.
Short sellers continue to place bets that electric vehicle makers' shares will fall while pulling out of traditional automakers' stocks.
Short sellers loaded up on shares of a China-based electric vehicle maker, and a stock split lifted short interest in the world's top maker of EVs.
Shanghai-based priced an upsized secondary offering of 88.5 million shares at $17, about 8% below last Friday's closing price. But that's only a small bit of the news from electric vehicle makers…
Two subsidiaries of Japanese conglomerate Hitachi have signed strategic agreements with electric van maker Workhorse Group. One of the agreements offers financial support for Workhorse's dealers and customers.
Chinese electric vehicle maker Xpeng completed its IPO on Thursday with shares priced at $15 (above the expected range) and investors getting a nice 54% premium to that price as well.