XPeng stock jumps 4.4% in overnight trading as Xpeng chairman and CEO He Xiaopeng has increased his stake in his company in an attempt to revive investor confidence.
As Xpeng's controlling shareholder, Mr. He purchased a total of 1 million Class A ordinary shares of the company in the Hong Kong stock market on August 21-23 at an average price of HK$27.13 per Class A ordinary share, according to a Hong Kong stock exchange announcement today.
Mr. He also purchased a total of 1,419,922 American Depositary Shares (ADSs) of Xpeng through Galaxy Dynasty Limited, which is wholly owned by him, at an average price of $7.02 per ADS.
Crypto stocks climb in overnight trading. MicroStrategy rose 2.5%; Canaan rose 1.9%; Bit Digital rose 1.6%; Coinbase rose 1.2%; Marathon Digital rose 1.1%; Riot Platforms rose 0.2%.
