Why Li Auto Stock Tapped the Brakes Today

Chinese electric car company Li Auto (LI -3.61%) is ending a strong week on a weak note Friday. After reporting powerful Q4 earnings on Monday, Li shares climbed as much as 33% over last Friday's close. Today, the stock hit a bit of a speed bump, though, losing 3.5% through 10:30 a.m. ET after reporting its February delivery numbers.But this was to be expected.What Li Auto did in 2023Li's performance in 2023 was simply fantastic. Sales surged 173.5% year over year to $17.4 billion. Gross profit margins expa ...