10 Stocks Defy Chaos With Jaw-Dropping Gains

8. XPeng Inc. (NYSE:XPEV)

Chinese electric vehicle maker XPeng Inc. (NYSE:XPEV) grew its share price by 20.56 percent week-on-week as investors cheered the company’s highly optimistic growth outlook for the third quarter, while taking path from an investment firm’s bullish rating for its stock.

Last week, XPeng Inc. (NYSE:XPEV) said it was targeting to grow its revenues by 94 percent to 107.9 percent year-on-year to between RMB19.6 billion and RMB21 billion in the third quarter, as it expected to deliver between 113,000 and 118,000 vehicles, or a year-on-year growth of 142.8 percent to 153.6 percent.

This followed its stellar earnings performance in the second quarter, having narrowed its net loss attributable to shareholders by 62.5 percent to RMB480 million from RMB1.28 billion in the same period last year, thanks to a 147-percent expansion in vehicle sales of RMB16.88 billion versus only RMB6.82 billion in the same comparable period.

Following the results, investment firm HSBC, in a market note on Friday, gave XPeng Inc. (NYSE:XPEV) a “buy” recommendation with a new price target of $29.6, higher than the $27.4 price target previously. The figure marked a 24.6-percent upside potential from its latest closing price.