Li Auto Inc. LI shares are trading higher Monday amid reports China may introduce new fiscal stimulus.
The Details:
According to a report from Reuters, China will accelerate the issuance of government bonds and increase efforts to leverage the role of special bonds in order to boost its struggling economy.
The same report cites the finance minister Lan Foan as saying, "The Ministry of Finance will continue to implement a proactive fiscal policy, focus on improving efficiency, and better play the effectiveness of fiscal policy."
Li Auto shares are moving on heavy trading volume Monday. According to data from Benzinga Pro, more than 6.37 million shares have already been traded in the session, compared to the stock's 100-day average of 5.801 million shares.
Li Auto is set to report its third-quarter financial reports before the market open on Nov. 9 and will host a conference call to discuss the results at 7:00 a.m. ET the same day. According to estimates from Benzinga Pro, the company is expected to report earnings of $2.19 per share and quarterly revenue of $33.641 billion.
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LI Price Action: According to Benzinga Pro, shares are up 8% at $39.41 at the time of publication.
Image: Courtesy of Li Auto, Inc.
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