XPeng Inc. (XPEV) Stock Slips as Options Activity Turns Cautious

XPeng Inc. (NYSE:XPEV) is among the 8 High Growth EV Stocks to Buy Now. 

According to TheFly on December 11, XPeng Inc. (NYSE:XPEV) shares slightly decreased as options activity showed a moderately bearish stance. The stock was down 18c, reaching $19.64. The report suggested that there were 9,518 contracts in the options market, with calls outpacing puts and a put/call ratio of 0.35 as opposed to a normal level of about 0.33. The implied volatility for 30-day options went up by 19 points to around 72.25, putting it in the top quartile of the previous year and showing an expected daily move of approximately $0.89. Moreover, according to TheFly, the put-call skew steepened, signaling more need for downside protection.

Earlier this month, XPeng Inc. (NYSE:XPEV) shares fell substantially due to concerns over sales estimates, according to a December 1 Investors report. The company reported that it delivered 36,728 vehicles in November, a growth of 19% over the same month last year. The total number of vehicles delivered in the fourth quarter through November was 78,741, including 42,013 vehicles sold in October. The business would need to sell roughly 50,000 cars in December to reach its quarterly target range of 125,000 to 132,000 units, according to numbers previously shared with investors. As per the report, XPeng Inc. (NYSE:XPEV) shares fell more than 3% on December 1 as a result of investors’ negative reaction to the implied need for a solid December.

XPeng Inc. (NYSE:XPEV) is a prominent Chinese smart electric vehicle startup. It designs, develops, manufactures, and promotes EVs in China.

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