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LI AUTO-W Mimics Tesla's Price Cut; Shr Price Once Slumps ~7% Below $100; EVs Depressed
LI AUTO-W (02015.HK) mimicked Tesla (TSLA.US)'s price cut in the US and Mainland China. This morning (22nd), LI AUTO-W opened 5.83% lower to bottom at $99, once diving 6.87% to...
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LI AUTO-W Mimics Tesla's Price Cut; Shr Price Once Slumps ~7% Below $100; EVs Depressed
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LI AUTO-W (02015.HK)  -2.800 (-2.732%)    Short selling $144.06M; Ratio 7.213%   mimicked Tesla (TSLA.US)      's price cut in the US and Mainland China. This morning (22nd), LI AUTO-W opened 5.83% lower to bottom at $99, once diving 6.87% to hit an almost-a-year low since May 2023. It last traded at $101.6, down 4.42%, with 5.9756 million shares traded, involving $600 million.

Other EV nascent forces were also squeezed, with XPENG-W (09868.HK)  +0.600 (+1.945%)    Short selling $66.58M; Ratio 16.837%   and LEAPMOTOR (09863.HK)  -0.300 (-0.962%)    Short selling $40.41M; Ratio 12.063%   down more than 2%. XPENG-W last posted at $26.2, down 2.96%, with 3.9401 million shares traded, involving $103 million. LEAPMOTOR last stood at $22, down 2.44%, with 176,800 shares traded, involving $3.9018 million.

Related NewsG Sachs Raises Rev. & EPS Forecasts on XIAOMI-W (01810.HK), Reiterates Buy
NIO-SW (09866.HK)  -0.100 (-0.237%)    Short selling $38.40M; Ratio 27.094%   last reported at $30, down 0.5%, with 208,400 shares traded, involving $6.1887 million. BYD COMPANY (01211.HK)  -1.200 (-0.538%)    Short selling $280.95M; Ratio 17.651%   opened lower by 0.3% to bottom at $198.7. It last came in at $200.6, down 0.3%, with 1.1098 million shares traded, involving $222 million.

Tesla's official website in Mainland China displayed that it began a comprehensive price cut yesterday (21st), affecting Model 3, Y, S and X series. Among which, the price of Model 3 Highland Version shed 5.7% to RMB231,900; that of Model Y dropped to RMB249,900; that of Model S fell to RMB684,900; and that of Model X lowered to RMB724,900.

LI AUTO-W announced price reductions for the 2024 versions of Li L7, Li L8, Li L9, and Li MEGA. Among which, the prices of L7 series were reduced by RMB18,000-20,000, and that of the MEGA reduced by RMB30,000 from RMB559,800 to RMB529,800.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-16 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

Related NewsJPM: Top Picks for CN EV Industrial Chain BYD COMPANY, CATL, FUYAO GLASS

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