Why Li Auto Stock Plunged Today

Li Auto's operating business is profitable, and it generated $1.3 billion in free cash flow in Q3.Chinese electric vehicle (EV) maker Li Auto (LI -12.87%) reported better-than-expected third-quarter results, but the stock was still down by 12.9% today, as of 1:05 p.m. ET. EV sales in China have been relatively strong recently, and Li's results reflect that. Third-quarter deliveries of nearly 153,000 vehicles represented a 45.4% jump versus the prior-year period. And Li reported earnings per share of $0.26, ...