Why Li Auto Stock Just Dropped Another 8%

Shares of Chinese electric-car maker Li Auto (LI -7.56%) suffered their latest sell-off Thursday, falling 7.1% through 12:05 p.m. ET after updating projections for electric-vehicle (EV) production -- and disappointing investors. Just last month, Li Auto wowed investors with news of its 2023 accomplishments, including 173.5% sales growth and net profits that were up 18 times versus 2022. Instead of losing money in 2023, Li earned $1.7 billion.But Li then disappointed investors, warning that 2024 doesn't look ...