Why EV Stock Li Auto Zoomed 52.8% in June and Could Rally Higher
In June, when the stock markets crashed and the S&P 500 lost 8.4% in value, Li Auto (NASDAQ: LI) stock gained a jaw-dropping 52.8%, according to data provided by S&P Global Market Intelligence. The rally in Li Auto shares stuns even more when you realize that the electric vehicle (EV) stock was down 13.3% in the year through May.
What changed so dramatically for Li Auto last month, and is this rally even sustainable?
The first day of any month often sets the tone for a Chinese EV stock's performance, as that's when these companies release their monthly sales data.
Source Fool.com