Why Li Auto Stock Keeps Going Down

Li Auto's sales fell 39% sequentially last quarter. The company's explanation for that raises more questions than it answers.Investors in Chinese automaker Li Auto (LI -3.74%) are having a rough month of May. After reporting a decline in sales Monday, which sent its shares tumbling double digits, the company announced Tuesday that it will delay releasing new all-electric SUV models until 2025. Shares of Li Auto stock reacted poorly to the news, falling 3.6% through 10 a.m. ET.That makes six straight days of ...