Li Auto Stock: Buy, Sell, or Hold?
Li Auto (NASDAQ: LI), a leading manufacturer of plug-in hybrid electric vehicles (PHEVs) in China, went public at $11.50 per American depositary share (ADS) on July 30, 2020. Its stock more than quadrupled to a record high of $46.65 on Aug. 7, 2023. At the time, it was dazzling the market with its soaring PHEV deliveries and the launch of its first battery-powered electric vehicle (EV).
But today, Li's stock trades at $27. The bulls retreated as China's tepid economic growth, the persistent price war in the EV market, and higher tariffs on Chinese EVs weighed down the sector. So is it the right time to buy, sell, or hold Li's stock?
Li's MEGA electric minivan. Image source: Li Auto.
Source Fool.com
