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It is currently trading 35.3% below its all-time high of $47.70 which it hit on November 24, 2020. The company delivered 4,323 Li ONEs in May 2021 compared to 5,539 in April 2021. LI’s total revenue declined 13.8% sequentially to $545.68 million for the first quarter ended March 31, 2021. Also, its net loss for the quarter increased 54% year-over-year to $54.94 million. Moreover, the company’s production continues to be impacted by the global semiconductor shortage. So, LI’s near-term prospects look bleak.
Here’s what I think could shape LI’s performance in the near term:
