What's Going On With Li Auto Stock?

Li Auto, Inc. LI shares are trading lower Monday amid concerns over China's property sector following reports suggesting that China Evergrande is unable to issue new debt due to an ongoing investigation into its Hengda Real Estate subsidiary.

What To Know:

The Chinese EV sector has been volatile recently amid reports of loosening restrictions on foreign investments and concerns over the broader Chinese economic recovery. 

The broader EV sector is also on many investors' radars as the United Auto Workers (UAW) continue to strike against the Big Three automakers in the U.S. 

Some analysts and investors believe that smaller, non-traditional automakers could benefit as the BIG Three face growing losses due to a lack of production, increased costs and delays in the transition to EV manufacturing.

Shares of LI are down Monday on heavy trading volume. According to data from Benzinga Pro, more than 6.8 million shares have already been traded in the session, compared to the stock's 100-day average of 6.429 shares.

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LI Price Action: According to Benzinga Pro, Li Auto shares are down 8.39% at $35.99 at the time of publication.

Image: Tayeb Mezahdia from Pixabay