Why Li Auto Jumped 11.9% in January
Shares of Li Auto (NASDAQ: LI) rose 11.9% in January, according to data from S&P Global Market Intelligence, after the Chinese electric vehicle (EV) manufacturer kicked off the month with a positive report on vehicle deliveries for the previous month and year.
Analysts subsequently became more bullish about its growth prospects because Li was exhibiting much more strength than expected. The Chinese EV market, or what it calls "new-energy vehicles," is the biggest in the world, and though it is a relatively crowded market the loss of subsidies and tax credits could soon weed out the weakest automakers.
Image source: Li Auto.
Source Fool.com
