We recently published a list of 10 Stocks Jump on Impressive Earnings, Bullish Outlooks. In this article, we are going to take a look at where XPeng Inc. (NYSE:XPEV) stands against other stocks that have surged on impressive earnings and bullish outlooks.

The stock market ended firmer on Tuesday, with all of Wall Street’s main indices finishing in the green territory amid news that President Donald Trump temporarily delayed the imposition of tariffs against Canada and Mexico.

The Dow Jones inched up by 0.30 percent, while the S&P 500 and Nasdaq both jumped 0.72 percent and 1.35 percent, respectively.

On Tuesday, 10 companies under mixed sectors mirrored the broader market rally, fueled by impressive earnings results and optimistic business outlooks, among others. This article details the reasons behind the top gainers’ impressive performance.

To come up with Tuesday’s top gainers, we only considered those with $2 billion in market capitalization and $5 million in daily trading volume.

A close-up of a luxury electric sports sedan, its sleek body reflecting the energy of progress.

XPeng Inc. (NYSE:XPEV)

Chinese electric vehicle manufacturer XPeng Inc. (NYSE:XPEV) saw its share prices rise by 8.29 percent on Tuesday to finish at $16.99 apiece as investors took heart from news that it achieved another record-breaking month in terms of vehicle deliveries.

In a statement released recently, XPeng (NYSE:XPEV) said it achieved 30,350 Smart EV deliveries for the month of January alone. The figure represented a 268 percent increase from the same period last year.

January also marked the company’s third consecutive month of surpassing the 30,000-unit deliveries.

XPeng (NYSE:XPEV) is undergoing an aggressive expansion program, with a plan to enter 60 new markets globally.

Last week, the company officially set foot on the European market with its entry into Ireland and Finland.

According to the company, it partnered with MDL Motors in Ireland and Inchcape in Finland to bring its smart EVs into the said countries.

Overall, XPEV ranks 9th on our list of stocks that have surged on impressive earnings and bullish outlooks. While we acknowledge the potential of XPEV as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than XPEV but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure: None. This article is originally published at Insider Monkey.