Once the darling of the EV world, the electric truck-maker Rivian is reeling https://t.co/dYr51rwbxv
Li Auto $LI quarterly earnings •Revenue of $5.88B (+129.70% YoY) beats by $398M. •EPS of $0.30 (+130.77% YoY) beats by $0.01. UP 16%
One big loser from EV maker Rivian's stock-market skid last week: Amazon https://t.co/bdbuLVevYb
Rivian faced a significant drop in valuation to $9 billion after reporting losses of $6.8 billion in 2022 and $5.4 billion in 2023. BYD's chairman proposed doubling share buyback to boost stock price amid an EV price war. Li Auto's positive signals and strong financial results led to a surge in stock price, with Q4 revenue beating estimates and a significant rise in net profit. Li Auto forecasts softer sales despite beating analyst estimates with deep discounting in the Chinese EV market.
