XPeng (NYSE:XPEV) stock is revving up on Wednesday thanks to news of a dual stock listing over in China.
Shares of XPEV stock trade on The Stock Exchange of Hong Kong Limited. Now, those shares are also trading on the Shenzhen Stock Exchange. This is due to the Shenzhen-Hong Kong Stock Connect program.
This program allows certain investors in mainland China to access shares listed in Hong Kong. XPeng’s inclusion in the Stock Connect program makes it the first smart EV company listed in Hong Kong to do so.
Brian Gum, vice chairman and president of XPeng, said this about the news sending XPEV stock higher today.
‘We are pleased to be included in the Stock Connect programs, which enable qualified Mainland Chinese investors to have direct access to our shares through the Stock Exchanges in the Mainland. The inclusion will not only further expand and diversify our investor base but also provide the opportunity for our customers, partners and EV and technology investors in China to participate in our exciting growth story.”
In other recent XPeng news, shares of XPEV stock are now being covered by Barclays. The firm started its coverage of the stock with an overweight rating and price target of $33 per share.
The recent news surrounding XPEV stock brings with it heavy trading of the shares. As of this writing, more than 12 million units have changed hands. That’s just above the company’s daily average trading volume of 11.8 million shares.
XPEV stock is up 9.5% as of Wednesday afternoon.
Investors can check out more recent EV stock news below!
We’ve got all the latest stock market news traders need to know about for Wednesday. Among that is a new price prediction for Nio (NYSE:NIO) stock, what to know about Nikola (NASDAQ:NKLA) today, as well as results from the most recent Lyft (NASDAQ:LYFT) earnings report. You can find all of this info at the following links!
More EV Stock News for Wednesday
- NIO Stock Price Prediction: Why One Analyst Sees the EV Maker Hitting $34
- NKLA Stock Alert Revs Higher Despite Concerning Supply Chain Report
- 5 Key Things for LYFT Stock Investors to Know Following Q4 Earnings Results
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.