Alibaba now owns 19% of XPEV stock. – Idaho Reporter

Investments

Alibaba now owns 19% of XPEV stock.

Amazon of Asia now owns 19% of all XPEV (Tesla of Asia) shares. If you invested in Xpeng (NYSE:XPV) during the IPO day and you are still holding your shares-hold on a little bit more, it will pay off, big time. At least that is what the common sense is talking to me.

According to WSJ journalist, Dave Sebastian, Alibaba Group Holding Ltd (HKG:9988) has boosted its stake in the Chinese electric-vehicle maker XPeng Inc. to 19% of Class A ordinary shares after XPeng’s IPO late last month.

 

Alibaba and its subsidiary Taobao said in its SEC filing that they acquired the shares for investment purposes, meaning that they expect to see profit going their way.

XPEV Shares went up 1.58 % and are trading at 18.01 on the stock market today. Nio stock bounced back today 6.7%, Li Auto is trading around its IPO day price ($16) , Tesla (TSLA) jumped almost 10% today.

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