Why Li Auto Stock Is Surging This Week
Shares of Chinese electric-vehicle maker Li Auto (NASDAQ: LI) were up for the third consecutive session on Wednesday, after two Wall Street banks initiated coverage with bullish ratings.
As of 12:15 p.m. EDT, Li's American depositary shares were up about 11.7% from Tuesday's closing price, and 35% higher since the end of last week.
Since Li Auto's first day of trading on July 30, shares of the maker of premium electric SUVs have so far followed the upward path blazed in recent months by domestic rival NIO's stock. Now, Wall Street is taking notice.
Source Fool.com