Why Li Auto Stock Plunged Today
Chinese electric vehicle (EV) maker Li Auto (NASDAQ: LI) reported better-than-expected third-quarter results, but the stock was still down by 12.9% today, as of 1:05 p.m. ET. EV sales in China have been relatively strong recently, and Li's results reflect that.
Third-quarter deliveries of nearly 153,000 vehicles represented a 45.4% jump versus the prior-year period. And Li reported earnings per share of $0.26, compared to Wall Street expectations of $0.19. Revenue of $6.1 billion also beat estimates for $5.9 billion, according to FactSet Research.
Source Fool.com
