Xpeng Stock

Xpeng said Alibaba's move was in execution of its capital management strategy and not due to a change in its view of the company.

Shares of Xpeng have fallen back to the level prior to the Volkswagen deal, despite improving operations and strategic opportunities, Morgan Stanley noted.

Xpeng saw its biggest one-day gain in early Hong Kong trading since the Volkswagen deal late last month.

Shares of Xpeng have given up the entire rally that followed the Volkswagen announcement, suggesting that the markets are missing the forest for the trees, Deutsche Bank said.

Xpeng CEO said the company has been preparing for the transition for nearly a year, and that its goals for XNGP remain unchanged.

Xpeng's vice president of autonomous driving, Wu Xinzhou, is rumored to be leaving the company and is set to join US chip giant Nvidia.

A top Chinese government meeting on Monday boosted investor optimism, with Nio and Xpeng, the laggards of the past few months, coming into more favor.

Xpeng's US-traded ADRs closed up 7.29 percent to $11.78 yesterday, giving it an 18.99 percent gain for the week.

Xpeng's stock traded in Hong Kong continues to rally after the announcement of the G6's pre-sale price, currently up about 5 percent.

Li Auto leads the pack with superior execution, but risk-reward increasingly favors Xpeng and Nio after a drastic sell-off this year, Morgan Stanley said.