The U.S.-listed shares of Li Auto Inc. (NAS:LI) (HKG:HK:2015) ran up 4.5% in premarket trading Friday, after the China-based electric vehicle maker said it received more than 30,000 orders for its Li L9 sport-utility vehicle in just 72 hours since reservations became available. The company has taken in more than $22.4 million with the orders, as each order required a RMB5,000 ($746.56) deposit, which is refundable for a limited time. Deliveries of the Li L9, which is a full-size, six-seat SUV, are expected to start by the end of August 2022. Li's stock has run up 22.2% year to date through Thursday, while the iShares MSCI China ETF (NAS:MCHI) has lost 13.5% and the S&P 500 (S&P:SPX) has dropped 20.4%.
June 24, 2022, 8:12 a.m. EDT