Li Auto (NASDAQ:LI) stock is a hot topic among electric vehicle (EV) investors today with its 28,277 deliveries for the month of May.
That’s a massive 146% year-over-year (YOY) increase in deliveries for the company. Additionally, it has the company’s total deliveries to date reaching 363,876 vehicles. Li Auto also notes that this is the third month in a row it has delivered 20,000 vehicles.
Xiang Li, Chairman and CEO of Li Auto, said the following about the news:
“In May, Li Auto’s monthly gross sales exceeded RMB10 billion for the first time in our history, laying a solid foundation for us to reach the sales target of RMB100 billion in 2023. The full-scale upgrade of our organizational processes has comprehensively strengthened our operating capabilities, advancing both our operating quality and efficiency in an upward spiral.”
LI Stock Movement on Thursday
Despite the positive delivery data for May 2023, LI stock isn’t seeing much movement today. Only about 2 million shares have changed hands as of this writing. That’s a far way off from its daily average trading volume of about 7.1 million shares.
To go along with that, shares of LI stock experienced a dip in price this morning. Li Auto has since recovered but the stock is only up slightly compared to yesterday’s closing price as of Thursday morning.
Investors keeping up with all of the latest stock market news will want to keep reading!
We have all of the most recent stock market news that traders need to know about on Thursday! Our coverage includes why shares of Xpeng (NYSE:XPEV) stock, Lucid Group (NASDAQ:LCID) and Fisker (NYSE:FSR) are moving today. You can catch up on all of this news by checking out the links below!
More Stock Market News For Friday
- XPEV Stock Alert: Xpeng Announces 7,506 Deliveries
- CRWD Stock Alert: CrowdStrike Announces New Partnership With Pax8
- LCID Stock Alert: Stock Offering Plan Sends Lucid Motors Plunging
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
