The 180-day lock-up period on shares of Chinese electric car maker Xpeng Motors expired February 22 EST, and they will be free to float from February 23.
That means Xpeng insiders will be able to trade their holdings freely. The size of the lockup is currently unknown.
Edison Yu, an analyst at Deutsche Bank, alerted this to investors on Twitter, saying "it's been a tough few weeks for bulls......4Q ER (earnings report) can potentially change narrative."
Reminder everyone $XPEV lock-up expires tomorrow, it's been a tough few weeks for bulls, sentiment is getting hit by competition (Geely, Xiaomi, $BIDU, $AAPL, etc...) and my sense is there is also EV fatigue from all the SPACs; 4Q ER can potentially change narrative
— Edison Yu (@edison__yu) February 23, 2021
Xpeng went public in the US on August 27, 2020, issuing 99.73 million ADSs, providing for a 180-day lock-up period, according to the company's F-1 filing in August 2020.
The new energy vehicle sector has weakened over the past week, with Xpeng falling more than 19 percent since February 15.
Xpeng will report its fourth quarter and fiscal year 2020 unaudited financial results on March 8 before the open of the US stock markets.
Xpeng's management will host an earnings conference call at 8:00 AM US Eastern Time on March 8, 2021 (9:00 PM Beijing/Hong Kong time on March 8, 2021).
Data compiled by CnEVPost showed Xpeng delivered 12,964 vehicles in the fourth quarter and 27,041 in 2020.
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