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Dec. 2, 2020, 8:50 a.m. EST

Li Auto's stock takes a dive after disclosing public offering of 47 million shares

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By Tomi Kilgore

Shares of Li Auto Inc. /zigman2/quotes/219811686/composite LI -0.63% took an 8.5% dive in premarket trading Wednesday, after the China-based electric vehicle maker filed for a public offering of 47 million shares of its U.S.-listed stock. Each American depositary share (ADS) represents two Class A ordinary shares. The public share offering represents about 5.6% of the shares outstanding, based on data provided by FactSet. Earlier, Li Auto reported a monthly record for deliveries in November, but the stock erased earlier gains of as much as 5.1% to trade lower ahead of the open. The stock has run up 95.1% over the past three months through Tuesday, while the iShares MSCI China ETF /zigman2/quotes/206267952/composite MCHI -0.37% has gained 4.2% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.77% has tacked on 2.3%.

/zigman2/quotes/219811686/composite
US : U.S.: Nasdaq
$ 31.36
-0.20 -0.63%
Volume: 7.88M
Jan. 28, 2021 11:12a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$28.33 billion
Rev. per Employee
$15,660
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/zigman2/quotes/206267952/composite
US : U.S.: Nasdaq
$ 88.79
-0.33 -0.37%
Volume: 2.49M
Jan. 28, 2021 11:12a
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/zigman2/quotes/210599714/realtime
US : S&P US
3,817.14
+66.37 +1.77%
Volume: 1.15B
Jan. 28, 2021 11:12a
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