We recently published a list of Friday’s 10 Worst Performing Stocks. In this article, we are going to take a look at where Li Auto Inc. (NASDAQ:LI) stands against other Friday’s worst performing stocks.

Wall Street’s main indices bounced back on Friday, erasing the entire week’s losses, as investor hopes were fueled by news that no government shutdown is happening.

The tech-heavy Nasdaq jumped the highest on Friday, adding 2.61 percent, followed by the S&P 500 with a 2.13-percent gain, and the Dow Jones with 1.65 percent.

Ten companies, on the other hand, bucked an overall market optimism, posting modest losses during the day.

In this article, we have named the day’s worst performers and detailed the reasons behind their drop.

To come up with the list, we only considered those with $2 billion in market capitalization and $5 million in trading volume.

A factory worker welding a car body with precision.

Li Auto Inc. (NASDAQ:LI)

Shares of Li Auto dropped by 4.39 percent on Friday to end at $27.46 apiece as investors soured on its weak revenue outlook for the first quarter of the year.

In its latest earnings release, LI said it expects total revenues to end between 23.4 billion yuan and 24.7 billion yuan, or a decrease of 3.5 percent to 8.7 percent year-on-year. The figures were way below the 33.5 billion yuan in revenues as projected by analysts.

During the last quarter, LI saw earnings per share of 10.04 yuan versus 11.46 yuan in the previous year, while revenues grew by 6.1 percent to 44.3 billion yuan year-on-year.

Earlier this month, LI showed a sneak peek of its new vehicle model, Li i8, which would kick off a new “intelligent” series, a smart driving system promising both innovation and intelligence.

Li i8 will complement the carmaker’s existing electric SUVs under the L series and the MEGA premium MPV.

It also forms part of the LI product roadmap, where it plans to launch five range-extended electric vehicles. Apart from the i8, the company will also launch the i6, i7, and i9.

Overall, LI ranks 3rd on our list of Friday’s worst performing stocks. 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 as promising as LI but 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.