Invezz·2024-04-22 13:06Core Insights - Li Auto Inc is experiencing a significant decline in stock price, down nearly 8.0% following an investigation announcement by Pomerantz LLP regarding potential securities fraud or unlawful business practices [1][2] - The investigation comes after Li Auto revised its Q1 delivery forecast from a maximum of 103,000 vehicles to 78,000 vehicles, with earnings report scheduled for May 8th [2] - The stock has decreased nearly 50% since late February [2] Price Adjustments - Li Auto has reduced vehicle prices by up to ¥30,000, affecting models such as L7, L8, L9, and the new Mega SUV [4] - This price cut is seen as a strategy to increase demand and compete with Tesla, which also lowered its Model 3 price by ¥14,000 in China [4] - Tesla has similarly reduced prices in other markets, including Germany, and its stock is down close to 50% since the beginning of the year [4]