XPeng Inc. (NYSE:XPEV) shares are trading lower despite gaining on its Hong Kong debut. Weakness is potentially related to overall Chinese market weakness on regulatory concerns.
Xpeng raised $1.8 billion after it issued 85 million ordinary shares at a price of HK$165 each ($21.24) as part of its dual primary listing in Hong Kong.
XPeng is a Smart Electric Vehicle company designing, developing, manufacturing, and marketing smart electric vehicles in China.
XPeng’s stock was trading about 6.7% higher at $41.11 per share on Wednesday. The stock set a new 52-week high of $74.49 and has a 52-week low of $17.11.
