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We recently published 10 Stocks With Crazy Gains. XPeng Inc. (NYSE:XPEV) was one of the top performers on Monday.
XPeng saw its share prices jump by as much as 8.99 percent at intra-day trading on Monday at $21.62 apiece as investors took heart from news that its flying car subsidiary is planning to pursue an initial public offering (IPO) to raise funds for its takeoff plans.
At market close, the stock pared gains to end the day just up by 8.39 percent at $21.70 apiece.
According to a report by South China Morning Post, citing people privy to the matter, Guangzhou-based Aridge, owned and controlled by XPeng Inc. (NYSE:XPEV) CEO He Xiaopeng and is currently valued at $2 billion, confidentially filed an IPO with the Hong Kong Stock Exchange (HKEX) and hired JPMorgan and Morgan Stanley as its underwriters for the sale. The IPO is said to be targeted this year.
XPeng Inc. (NYSE:XPEV) and Aridge have yet to issue a comment to confirm the reports.
Earlier, Aridge announced plans to deliver its flying cars in the second half of 2026, while it is underway with the development of a 120,000-square meter factory in Guangzhou, where XPeng Inc. (NYSE:XPEV) is also headquartered.
In recent news, XPeng Inc. (NYSE:XPEV) said that its total deliveries in 2025 surged by 126 percent to 429,445 units, reflecting strong demand for its vehicles. Of the total, 45,008 were delivered overseas, while 37,508 units were delivered in December alone, marking a 2 percent increase year-on-year.
While we acknowledge the potential of XPEV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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