What's Going On With Li Auto Shares Today?
Portfolio Pulse from Nabaparna Bhattacharya
Li Auto Inc. (NASDAQ:LI) reported a 21.8% year-over-year increase in vehicle deliveries for February 2024, reaching 20,251 vehicles. Cumulative deliveries hit 684,780. The company announced the upcoming launch of new models, aiming for a monthly delivery target of 50,000 vehicles in March. Q4 results showed a 136.4% revenue increase to $5.88 billion with 131,805 vehicles delivered, surpassing estimates. Li Auto forecasts Q1 vehicle deliveries between 100,000 and 103,000, a 90.2% to 95.9% increase year-over-year. The company has expanded its retail and service network. Despite positive performance, LI shares dropped 2.55% to $44.71 in premarket trading.
March 01, 2024 | 12:04 pm
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Li Auto Inc. reported significant year-over-year growth in vehicle deliveries and revenue, with ambitious targets for future deliveries. Despite this, shares fell 2.55% in premarket trading.
The drop in Li Auto's share price despite positive performance indicators and future growth targets may be attributed to market reactions to short-term factors or profit-taking by investors. The significant increase in vehicle deliveries and revenue, along with ambitious delivery targets for new models, typically would be positive signals for the stock. However, the immediate market reaction has been negative, possibly due to broader market conditions, investor sentiment, or other external factors not detailed in the article.
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