Autozone Inc
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Consumer Discretionary : Specialty Retail | Mid Cap Blend
Company profile

AutoZone, Inc. is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of February 10, 2018, the Company operated through 6,088 locations in the United States, Puerto Rico, Mexico and Brazil. The Company's stores carry product lines for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and non-automotive products. The Company's other operating segments include ALLDATA, which produces, sells and maintains diagnostic and repair information software used in the automotive repair industry, and E-commerce, which includes direct sales to customers through www.autozone.com.

Closing Price
$1,248.33
Day's Change
0.31 (0.02%)
Bid
--
Ask
--
B/A Size
--
Day's High
1,249.36
Day's Low
1,238.13
Volume
(Above Average)
Volume:
257,431

10-day average volume:
217,947
257,431

XPeng stock falls after upsized share offering prices at near 8% discount

7:03 am ET December 9, 2020 (MarketWatch)
Print

Tomi Kilgore

XPeng raised more than $2 billion, as the offering was boosted by 20% to 48 million shares

Shares of XPeng Inc. dropped in premarket trading Wednesday, after the China-based electric vehicle maker's upsized public share offering priced at a discount of nearly 8%.

The company raised $2.16 billion in the offering, as it sold 48 million American depositary shares (ADS) at $45 per ADS.

XPeng (XPEV) had previously expected to sell 40 million ADS (https://www.marketwatch.com/story/xpeng-stock-drops-to-extend-selloff-after-public-share-offering-11607341599)to the public, and the pricing was 7.6% below Tuesday's closing price of $48.69.

The stock fell 3.5% ahead of Wednesday's open. It had bounced 0.8% on Tuesday, to snap a three-day losing streak in which it shed 13.8%.

Wednesday's weakness bucks the strength seen in other China-based EV makers, as shares of Nio Inc. (NIO) rose 0.5% in premarket trading and Li Auto Inc. (LI) rallied 1.8%.

XPeng could sell up to an additional 7.2 million shares, if the underwriters of the offering exercise all of the options granted to cover overallotments. That could boost what XPeng raises to roughly $2.5 billion.

The proceeds will be used for research and development of XPeng's smart EVs, sales and marketing, potential strategic investments and general corporate purposes.

Xpeng's stock, which went public on Aug. 27, has tumbled 17.1% this month through Tuesday, but has soared 169.5% over the past three months. In comparison, Nio shares have run up 157.4% the past three months and Li Auto's stock has climbed 110.8%, while the iShares MSCI China exchange-traded fund (MCHI) has advanced 9.9% and the S&P 500 index has gained 8.9%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

December 09, 2020 07:03 ET (12:03 GMT)

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