NEW YORK, December 31, 2025, 11:11 ET — Regular session
- XPeng’s U.S.-listed shares fell about 6% to around $20 in late-morning New York trading.
- Other U.S.-listed Chinese EV makers also dropped, with NIO down about 9% and Li Auto off nearly 5%.
- Traders are watching China’s updated trade-in subsidies and early-January delivery updates for demand signals.
XPeng Inc’s U.S.-listed shares slid about 6% on Wednesday, down 6.0% at $19.99 by 11:11 a.m. ET.
The late-year session often brings thinner liquidity, which can magnify moves in higher-risk names.
For investors in Chinese EVs, the timing matters because fresh demand signals arrive in early January, when manufacturers typically publish monthly delivery figures and China rolls out updated consumer incentives.
XPeng’s ADRs (American depositary receipts, the U.S.-traded version of its shares) opened at $20.50 and hit a low of $19.87 before paring losses. The stock traded as high as $20.54, with volume around 3.9 million shares.
Peers fell harder. NIO lost about 9.5% to $4.98, while Li Auto dropped about 4.8% to $16.44.
Broader U.S. stocks slipped, extending a year-end soft patch that left investors cautious into 2026. “Describing 2025 as ‘resilient’ might be an understatement,” said Adam Turnquist, chief technical strategist at LPL Financial. Reuters
China is also tweaking support for big-ticket spending. It has allocated 62.5 billion yuan ($8.94 billion) in ultra-long special treasury bond funds for a 2026 consumer goods trade-in program that includes subsidies for replacing older cars, a Reuters report said.
Under the plan, buyers scrapping an old car and purchasing a new energy vehicle (NEV, China’s term for battery-electric and plug-in hybrid models) can receive a subsidy equal to 12% of the purchase price, capped at 20,000 yuan. Those replacing an older vehicle with a new NEV can get 8%, capped at 15,000 yuan, the report said.
EV sentiment has also been sensitive to demand read-throughs from Tesla. The company this week published a compilation of analyst forecasts showing a fourth-quarter delivery consensus of 422,850 vehicles, versus 497,099 in the third quarter, according to a Tesla investor relations release.
For XPeng, the next near-term test is whether buyers defend the $20 level, a round-number marker often watched by traders. A break below Wednesday’s $19.87 low would leave little nearby support on the day’s chart.
Outside monthly delivery updates, investors are waiting for the next detailed look at margins and cash burn as the China price war grinds on. Zacks data show XPeng is expected to report results around March 17.
U.S. markets close on Thursday for New Year’s Day, which could keep volumes light and widen swings when trading resumes on Friday. Any surprise in January deliveries or policy details could set the tone for the group’s start to 2026.
StubHub stock ticks up today as class-action alerts keep legal overhang in focus
NEW YORK, December 31, 2025, 11:11 ET — Regular session
- StubHub shares rose about 0.3% to $13.96 in late-morning New York trading.
- Law-firm investor notices highlighted a securities class action and a Jan. 23, 2026 lead-plaintiff deadline.
- The stock remains about 41% below its $23.50 IPO price.
StubHub Holdings Inc shares edged higher on Wednesday as investors digested a fresh round of investor alerts highlighting a securities class action tied to the ticket marketplace’s IPO.
The legal overhang matters because StubHub is still in its early months as a public company, and the stock remains well below its offer price amid scrutiny of cash generation.
With the lead-plaintiff clock ticking and the next earnings report approaching, traders are watching for any company response and for signs that volatility is easing.
The stock was up about 0.3% at $13.96 at 11:11 a.m. ET, after opening at $14.00. It traded between $13.84 and $14.56, with volume around 542,000 shares.
Kessler Topaz Meltzer & Check said a securities-fraud class action has been filed and set a Jan. 23, 2026 deadline for investors to ask the court to be appointed lead plaintiff — the investor who directs the case on behalf of the proposed class. The complaint alleges StubHub’s offering documents did not fully disclose changes in the timing of vendor payments that hurt free cash flow, or cash left after operating costs and capital spending, the firm said.
StubHub’s IPO prospectus said the Class A shares were priced at $23.50. At current levels, the stock is down about 41% from that price.
The investor notices are not company filings, but they can keep pressure on sentiment, especially for recent IPOs with limited trading history. The notices did not include a response from StubHub.
When StubHub debuted on the NYSE in September, CEO and co-founder Eric Baker told Reuters, “It is just a step in the road for what we want to build.” Reuters
The next catalyst is the company’s next quarterly report, which Nasdaq data estimate will land around Feb. 12, 2026. Investors will be looking for updates on demand for live-event tickets and whether cash-flow trends stabilize.
On the tape, $14 is a round-number level that traders often watch. Wednesday’s $14.56 high is the next near-term upside point, while $13.84 marks the day’s downside reference.
Beyond the lawsuit, investors will watch for any disclosures about litigation risk in future SEC filings. They will also track whether the company tightens language on cash flow and working capital — the timing of cash in and out — after the allegations.
