Electric vehicle (EV) stock Xpeng Inc (NYSE:XPEV) is down 9.4% to trade at $22.67 at last check, brushing of a bottom-line win for the third quarter as well as record deliveries, after the company issued a dismal fiscal fourth-quarter outlook amid fierce competition.
XPEV is on track for its fourth-straight loss, as well as its worst day since April 2023. Shares are pivoting lower from a Nov. 11, roughly three-year high of $28.23, but support from the 80-day moving average looks positioned to contain these losses. For 2025, the equity still boasts a 91.8% lead.
Drilling down to today's options activity, 95,000 calls and 26,000 puts have already crossed the tape, which is double the intraday average volume. Most popular is the January 16, 2026 30-strike call.
Sector peer Lucid Group Inc (NASDAQ:LCID) is also hurting, last seen down 11.2% to trade at a record low of $12.61, after the equity drew a price-target cut from Stifel to $17 from $21.
LCID is pacing for its seventh consecutive daily drop, in addition to its biggest single-day percentage loss since February. The security already carries a steep 58.2% year-to-date deficit, and last week broke below a previous floor at $15, which contained a September pullback.
Bearish bets have been prevalent for the last few weeks. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security's 50-day put/call volume ratio of 3.02 is only two percentage points from an annual high.
