We recently compiled a list of the 10 Stocks Firm Up Amid Cautious Trading. In this article, we are going to take a look at where Li Auto Inc. (NASDAQ:LI) stands against the other stocks.

Wall Street extended its lackluster performance on Tuesday, with two major indices finishing with only slight changes amid a series of key factors keeping investor sentiment neutral.

Only the Dow Jones finished in the green territory, posting a 0.37 percent gain. In contrast, the S&P decreased by 0.47 percent while the tech-heavy Nasdaq fell by 1.37 percent.

During the last trading session, ten companies defied a generally cautious market, albeit posting only modest gains. In this article, we have detailed the reasons behind their stronger performance.

To come up with Tuesday’s top gainers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A factory worker welding a car body with precision.

Li Auto Inc. (NASDAQ:LI)

Li Auto Inc. (NASDAQ:LI)’s share prices jumped by 13.2 percent on Tuesday to finish at $29.84 apiece as investor sentiment was fueled by a sneak peek of its Li i8 vehicle models which reportedly are set to be launched this year.

The Li i8 will be the debut of the I Series, with the I in the name said to represent “intelligence,” according to Li Auto Inc. (NASDAQ:LI) CEO Li Xiang.

Details on the pricing and launch schedule have yet to be announced.

As part of the new I series, the Li i8 will complement the carmaker’s existing electric SUVs under the L series and the MEGA premium MPV.

The new vehicle series forms part of Li Auto Inc. (NASDAQ:LI)’s product roadmap, where it plans to launch five range-extended electric vehicles. Apart from i8, the company will also launch the i6, i7, and i9.

Overall LI ranks 1st on our list of Tuesday's top gainers. While we acknowledge the potential of LI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than LI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

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Disclosure: None. This article is originally published at Insider Monkey.