Biggest stock movers today: SIRI, XPEV, and more (NYSE:XPEV)

Inventory futures inched up early Monday morning, whereas Treasury yields slipped, with markets remaining close to document highs after the Federal Reserve signaled that long-awaited charge cuts are more likely to start subsequent month.

Listed below are a few of Monday’s greatest inventory movers:

Largest inventory gainers

XPeng (NYSE:XPEV) shares surged over 7% after Chairman and CEO He Xiaopeng boosted his stake within the firm to revive investor confidence. Because the controlling shareholder, Mr. He bought 1 million Class A unusual shares within the Hong Kong inventory market between August 21-23 at a median worth of HK$27.13 per share and a further 1,419,922 American Depositary Shares (ADSs) at $7.02 per ADS via Galaxy Dynasty Restricted, an organization he wholly owns. His shareholding in XPeng has now elevated to roughly 18.8%, and he plans to additional improve his stake, as per the announcement. Opendoor Applied sciences (NASDAQ:OPEN) shares soared almost 6%, constructing on Friday’s 11% achieve, after Federal Reserve Chair Jerome Powell delivered dovish remarks about rates of interest throughout a extremely anticipated speech in Jackson Gap, Wyoming. Actual property inventory traders, anticipating alerts of upcoming charge cuts, reacted positively to Powell’s stance, driving shares of Opendoor larger. Sirius XM (NASDAQ:SIRI) shares rose 4% after Liberty Media Company (LSXMA) introduced the approval of a redemptive split-off (the Break up-Off) of Liberty Sirius XM Holdings (New Sirius) throughout a digital particular assembly of its Sequence A and Sequence B Liberty Sirius XM frequent stockholders on August 23, 2024. Following the split-off, New Sirius will mix with Sirius XM Holdings Inc. (SIRI) to create a brand new public firm that may proceed to function below the Sirius XM title and model. Liberty Media will redeem excellent Liberty SiriusXM frequent inventory for shares of New Sirius frequent inventory. The ultimate change ratio shall be introduced on or about September 5, 2024. Liberty SiriusXM frequent inventory will stop buying and selling on September 9, 2024, and New Sirius frequent inventory will start buying and selling on the Nasdaq Inventory Market below the ticker image “SIRI” on September 10, 2024.