Goldman Sachs Group Inc
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Financials : Capital Markets | Large Cap Value
Company profile

The Goldman Sachs Group, Inc. is a global financial institution that delivers a range of financial services across investment banking, securities, investment management and consumer banking to a diversified client base that includes corporations, financial institutions, governments and individuals. The Company segments include Global Banking & Markets, Asset & Wealth Management and Platform Solutions. The Global Banking & Markets segment includes financing, advisory services, risk distribution, and hedging for its institutional and corporate clients, including Fixed Income, Currency and Commodities (FICC) and Equities, Investment Banking and Marquee. The Asset & Wealth Management segment includes advice, investing, and execution for institutions and individuals across public and private markets. The Platform Solutions segment includes consumer platforms, such as partnerships offering credit cards and point-of-sale financing, and transaction banking and other platform businesses.

Day's Change
8.95 (2.89%)
B/A Size
Day's High
Day's Low

Today's volume of 1,539,947 shares is on pace to be much lighter than GS's 10-day average volume of 4,214,926 shares.


XPeng stock just misses a record selloff, snaps 5-day win streak

11:13 am ET January 8, 2023 (MarketWatch)

By Tomi Kilgore

Shares of EV makers Nio, Li Auto also tumble after Tesla cuts prices in China

The U.S.-listed shares of XPeng Inc. plunged Friday to snap a five-day win streak, as price cuts by Tesla Inc. in China soured sentiment toward China-based electric vehicle makers.

The stock (XPEV) was down as much as 17.2% at its intraday low of $9.85, before recovering slightly to close down 15.04% at $10.11. It just missed breaking its record one-day drop of 15.08% set on March 24, 2021.

The selloff followed Tesla's (TSLA) disclosure that it had cut prices for its Model 3 and Model Y vehicles in China by more than 10%, the second price cut in three months. It also bucked the rally in the broader stock market, as the S&P 500 surged 2.3%.

XPeng shares, which went public in August 2019, were still up 1.7% to start the year, after soaring 19.7% over the past three days and running up 26.7% amid a five-day win streak.

The stock's rally this week followed the company's report earlier in the week showing that December and fourth-quarter deliveries fell sharply from a year ago, even though Nio Inc. (NIO) and Li Auto Inc. (LI) reported big year-over-year increases.

Tesla's stock swung to a gain of 2.5% to close at $113.06, reversing an earlier intraday loss of as much as 7.7%.

Meanwhile, Tesla's price cuts sent Nio's stock sinking as much as 12.5% intraday Friday before it pared some losses to close down 4.5% at $10.37. After climbing 12.8% the past two days, the stock was still up 6.4% this week, after plummeting 69.2% in 2022.

Li Auto's stock dropped 9.2% but was down as much as 14% earlier. The stock has gone up 25% amid a five-day win streak through Thursday.

-Tomi Kilgore


(END) Dow Jones Newswires

January 08, 2023 11:13 ET (16:13 GMT)

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