China’s Tesla Rival Li Auto Announces $1 Share Repurchase Program — LI Stock Gains

China’s Tesla rival Li Auto Inc. (LI) on Tuesday announced that its board of directors has approved a share repurchase program, authorizing it to buy back shares up to $1 billion.

The company said this allows Li Auto to repurchase shares from the date of authorization through March 31, 2027.

Li Auto’s American Depository Shares (ADS) were up nearly 5% in Tuesday’s pre-market trade. Retail sentiment on Stocktwits around the company trended in the ‘bullish’ territory, with message volumes at ‘high’ levels. LI was among the top trending tickers on the platform at the time of writing.

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