Li Auto soars in Nasdaq
This week, Li Auto rose 8.69%, achieving its third consecutive gain with a total market value of over $30.2 billion USD.
In May of this year, Li Auto performed brilliantly on its Q1 financial report, attracting attention from the capital market. After the opening on May 26, Li Auto’s stock price continued to soar with a maximum increase of over 16%. As of the close of the day, Li Auto closed at $22.82 per share, showing an increase of 14.16%.
As of July, Li Auto has increased 7 direct-operated delivery centers in China, including 3 official centers located in Urumqi, Kunming, and Dongguan, and 4 cooperative centers in Linyi, Yantai, Huaian, and Qinhuangdao.
Also, Li Auto has added a regional vehicle distribution center in Dongguan. In addition to providing delivery services for users in Dongguan and surrounding cities, it also provides convenient warehousing and distribution services. This expressed the normalized expansion of business and may increase confidence in the market.
On the other hand, the recent rise in US oil prices by over 4% may also be the reason for the rise of energy vehicle concept stocks. Although US crude oil inventories increased unexpectedly last week, Lipow Oil Associates President Andy Lipow still said, “In general, the OPEC+ agreement clarifies what the market should expect in terms of resuming production. However, according to OPEC+ data, even this is not enough to prevent the overall decline in global oil inventories.”
