Friday’s 10 Worst Performing Stocks

3. 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.