Shares of XPeng Inc.
bounced 3.7% in premarket trading Tuesday, which puts them on track to snap a three-day losing streak in which they dropped 13.8%. The stock had been pushed lower after the China-based electric vehicle maker announced Monday a public stock offering of 40 million shares. Among other China-based EV makers, shares of Nio Inc.
rose 3.0% ahead of the open and Li Auto Inc.
rose 5.9%. Li Auto’s stock had gained 3.1% on Monday, to snap a seven-day losing streak in which it plunged 30.6%. Over the past three months through Monday, XPeng’s stock has soared 172.4%, Nio shares have run up 164.9% and Li Auto shares have climbed 99.4%, while the iShares MSCI China ETF
has tacked on 10.6% and the S&P 500
has gained 10.8%.