Why Li Auto Stock Surged Today
Li Auto (NASDAQ: LI) stock closed out Monday's trading with substantial gains. The Chinese electric vehicle (EV) company's share price closed out the daily session up 6.7%, according to data from S&P Global Market Intelligence.
Li Auto published vehicle delivery results for June before U.S. markets opened today. Better-than-expected performance helped power big gains for the company's stock.
Li Auto delivered 47,774 vehicles in June. The performance represented a nearly 47% year-over-year increase compared to its deliveries in June 2023. With June deliveries now tallied, the company delivered 108,581 vehicles in this year's second quarter -- up 25.5% on an annual basis. On the heels of demand headwinds in 2022 and 2023, Li now appears to be seeing some recovery trends.
Source Fool.com
