Why Li Auto Stock Is Up Today
Portfolio Pulse from Ryan Gustafson
Li Auto Inc. (NASDAQ:LI) shares are trading higher following strong July delivery data. The company announced that it delivered 34,134 vehicles in July 2023, a 227.5% YoY increase. The cumulative deliveries of Li Auto vehicles in 2023 reached 173,251. Nio (NYSE:NIO) and Xpeng (NYSE:XPEV) also reported deliveries. Li Auto is set to report Q2 earnings on Aug. 8, expected to be 12 cents per share and revenue of $3.70 billion.
August 04, 2023 | 10:03 am
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POSITIVE IMPACT
Li Auto's strong July delivery data and upcoming Q2 earnings report are driving its stock price up.
The strong delivery data indicates high demand for Li Auto's products, which is a positive sign for investors. The anticipation of a positive Q2 earnings report also adds to the bullish sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Nio reported a 103.6% YoY increase in vehicle deliveries in July.
The increase in vehicle deliveries indicates strong demand for Nio's products, which could positively impact its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Xpeng reported a 28% MoM increase in EV deliveries in July.
The increase in EV deliveries indicates strong demand for Xpeng's products, which could positively impact its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50