Why Li Auto Stock Is Soaring Higher
Portfolio Pulse from Henry Khederian
Shares of Li Auto Inc (NASDAQ:LI) are trading higher by 7.9% following strong earnings from PDD Holdings and measures taken by Chinese authorities to boost investor confidence, including a cut to taxes on stock trading. PDD Holdings reported a 66% YoY revenue growth to $7.21 billion, beating the consensus of $6.07 billion. Li Auto has a 52-week high of $47.33 and a 52-week low of $12.52.
August 29, 2023 | 2:53 pm
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Li Auto shares are trading higher by 7.9% following strong earnings from PDD Holdings and measures taken by Chinese authorities to boost investor confidence.
The surge in Li Auto's stock price can be attributed to the strong earnings report from PDD Holdings, which has lifted Chinese stocks. Additionally, measures taken by Chinese authorities to boost investor confidence, including a cut to taxes on stock trading, have also contributed to the rise in Li Auto's stock price.
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