Why Shares of Li Auto Are Jumping This Morning
Shares of Chinese electric-vehicle (EV) maker Li Auto (NASDAQ: LI) popped at the market open today, and are up 5% as of 9:45 a.m. EST. The gain is likely related to November Chinese EV sales news that is beginning to come out today.
Last month, Li announced that its October Li One SUV deliveries showed a "steady increase" over September, and represented more than 40% of third-quarter deliveries. Today, rivals NIO (NYSE: NIO) and XPeng (NYSE: XPEV) announced strong November sales data, and investors are thinking Li will do the same.
Source Fool.com
