XPeng Stock Plunges After Rare Double-Downgrade

Shares for Chinese electric vehicle maker


XPeng


have just been hammered in 2022—and they dropped even more Friday after a once-bullish analyst said to sell the stock.

Citi


analyst Jeff Chung doubled-downgraded shares to Sell all the way from Buy. (Analysts typically go one ratings notch at a time, from Buy to Hold then from Hold to Sell and vice versa.)