10 Stocks Got Wiped Out. Are You Holding Any?

8. XPeng Inc. (NYSE:XPEV)

XPeng declined by 3.35 percent on Tuesday to finish at $19.33 apiece, as investors sold off positions to mitigate risks from renewed calls of delisting Chinese companies, while continuing to digest news of lower electric vehicle prices amid heavy competition.

Last week, giant EV-maker BYD announced that it was offering discounts on 22 of its electric and plug-in hybrid models until the end of June. The news triggered concerns of a cut-throat competition in the electric vehicle industry.

In recent news, XPeng Inc. (NYSE:XPEV) achieved a 331-percent expansion in vehicle deliveries in the first quarter of the year, at 94,008 from 21,821 in the same period last year.

Net loss narrowed to 660 million yuan from 1.37 billion yuan in the same period in 2024, while revenues increased by 141.5 percent to 15.81 billion yuan from the same period a year ago.

Meanwhile, top Republican financial officers from 21 states have asked Securities and Exchange Commission Chairman Paul Atkins, through a letter dated May 20, to review the possibility of delisting Chinese firms from US exchanges in a bid to protect US investors.

The companies were accused of not complying with federal audit requirements, audit deficiencies, crackdowns on firms that do due diligence research on Chinese companies, alleged stock manipulation, as well as national security concerns.