Xiaopeng Automobile's stock price on Friday (October 28) fell 7.5%and fell to a historical low. Previously, Citi Group analyst Jeff Chung's view of this Chinese electric vehicle manufacturer has changedTo be short, the company's model cycle is expected to face serious challenges in 2023.
The Wall Street Journal reported that Xiaopeng Automobile's stock price fell 16.2%this week, a decline in 11 consecutive weeks, down 72.1%.
After being rated as buying at least two years in the past two years, Jeff Chung has lowered the share rating to sell.He lowered the target price from the current $ 27.87 (Same as the same, about S $ 39.47) to $ 3.18, which means that the stock price fell by about 53%from the current level.He also lowered sales expectations for 2022 and the next two years because of non -competitive pricing strategies for P5 and G3I models, as well as more intense competition from peers.
So far this year, Xiaopeng Automobile's stock price has fallen by 86.5%, while the stock price of Chinese electric vehicle competitors Weilai Group and the stock price has fallen by 69.6%, and the ideal car has fallen by 56.2%.In contrast, ISHARES China Celestial ETF fell 41.2%at the same time, and the S & P 500 index fell 18.1%.
