Why Shares of Lilium Are Flying Higher Today
The S 500 and Dow Jones Industrial Average both dipped lower in today's trading session. Shares of Lilium (NASDAQ: LILM), however, headed in the opposite direction, thanks to an optimistic forecast for the Chinese economy.
For the fourth day in a row, shares of Lilium, a developer of electric vertical take-off and landing (eVTOL) jets, climbed higher. Today, though, was an especially impressive gain of altitude for the eVTOL stock as it ended the trading session, having logged a 20.3% gain.
During a meeting of the World Economic Forum yesterday in China, Chinese Premier, Li Qiang, expressed optimism that the Chinese economy is poised to grow in the second quarter at a rate higher than it achieved in the first quarter of 2023. Qiang further projected that the Chinese economy will grow by about 5% in 2023 compared to 2022. The forecast is of particular note for Lilium investors because of the company's recent activity in the country.
Source Fool.com
