Trade Alert

Closed my Li Auto position at $165.5

_{Posted by Club Member TomTD 9.8.23}

The stock gap down 9% at the open today, despite reporting strong quarterly earnings that easily surpassed consensus expectations and raising forward guidance.

Management is forecasting EV deliveries of over 100k units this coming third quarter.

I thought it was a good earnings report. The company continues to execute well and is solidifying its position as the preferred premium brand for family EVs. Top line growth continues to be strong and the company reiterated that they are on track to achieve RMB 100B in sales in 2023.

I still like the stock and still think Li Auto has room to go higher, but decided to sell today due to the negative price action. Not exactly clear on what drove the selloff today, but just thought better to “sell first, and ask questions later”.

Got in at around HK$134.5, sold at HK$165.5, so a gain of around 23% in less than 2 months.

Might get back in if positive momentum returns to the stock.

#Li Auto #Trade Update

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