XPeng stock soars on Q2 vehicle delivery forecasts

XPeng stock (XPEV) is being driven into the green after the Chinese EV maker beat first-quarter estimates, narrowing expected losses per share.

Yahoo Finance's Market Domination checks out XPeng's vehicle delivery guidance for the second quarter.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Luke Carberry Mogan.

Video transcript

Look like hang in there, they delivered about 22,000 vehicles.

They're targeting 29 to 30 thou 32,000 vehicles.

This quarter, analysts had actually wanted to see something closer to 38,000 so I miss there but investors boomed in.

Yeah, and they didn't do great last year.

You know, we've seen some challenges among some of these Chinese ev makers, Lee Otto came out with disappointing numbers earlier in the week.

Exp exp uh does have partnerships with some other automakers like Volkswagen for example.

And it is talking about new products coming to market before the end of the year.

That will be in a pretty wide price range.

So designed to appeal to a pretty broad swath of consumers.

The question remains whether Chinese consumers are feeling when it comes to the EB companies?

The stock is higher today.

We should mention though this has been a slog.

I mean the stock was down about 40% this year through Monday's close.

Here's what the team at Bernstein told their clients margin improvement is encouraging but they say more proof awaits on the core recovery.

They stick with their market reform rating in other words, they're on the sidelines.