Li Auto (Li Auto (LI)) unveiled its latest family hauler, the Li L9, on Friday — a six-seat, premium plug-in electric SUV that's set to start deliveries on May 17. But the stock didn't get a lift from the news. Shares were down 3.74% at $18.55 at the time of publication, reflecting a broader market that's in a sour mood.

The S&P 500 was off 0.90% and the Nasdaq fell 1.16% on Friday, so Li Auto's drop isn't entirely its own doing. Still, the stock has had a rough 12 months, down 35.34%, and the new model launch didn't provide the catalyst some might have hoped for.

The Li L9: What's New?

The Li L9 is a six-seater, large premium plug-in electric SUV with a range extension system and advanced smart vehicle solutions. It comes in two trims: the Ultra at RMB 459,800 (about $67,766) and the Livis at RMB 509,800. The model is part of Li Auto's broader strategy to expand its product lineup, covering both battery electric vehicles (BEVs) and plug-in hybrids (PHEVs), to capture more of China's growing new energy vehicle market.

Li Auto sold over 400,000 NEVs in 2025, accounting for roughly 3% of China's passenger new energy vehicle market. The company started with the Li One in November 2019 and has been building out its family-oriented lineup ever since.

Technical Picture

Technically, the stock is in a bit of a no-man's land. It's trading at $18.46, just 0.8% above its 20-day simple moving average of $18.29, but 7.5% below its 200-day SMA of $19.94. The MACD is above its signal line, which suggests that downside pressure might be easing — a glimmer of hope for momentum traders. Key resistance sits at $19.00, a level where rebounds have stalled before, while support is at $17.00, where buyers have previously stepped in.

Earnings on Deck

Li Auto is set to report earnings on May 28, 2026. The consensus is for EPS of 7 cents, down from 13 cents a year ago, and revenue of $3.14 billion, down from $3.57 billion. That's a notable slowdown, and the stock's valuation reflects the premium the market still assigns to growth: a P/E of 121.3x.

Analysts are cautious. The stock carries a Hold rating with an average price target of $18.82. Recent moves include:

• JP Morgan: Underweight, raised target to $15.50 (March 13)
• Jefferies: Downgraded to Hold, lowered target to $17.50 (January 23)
• Citigroup: Neutral, lowered target to $18.50 (January 15)

So the Street is not exactly pounding the table.

Value vs. Momentum

On the MarketDash Edge scorecard, Li Auto scores a strong 88.73 on Value, meaning it looks cheap relative to peers. But Growth is a middling 39.76, and Momentum is a weak 14.09 — the stock is underperforming the broader market. The verdict: a value-oriented setup that needs a catalyst to get moving.

ETF Exposure

Li Auto has meaningful weight in a couple of thematic ETFs. The SPDR S&P Kensho Smart Mobility ETF (HAIL) has a 2.22% weight, and the Intelligent Livermore ETF (LIVR) has a 3.01% weight. That means any significant inflows or outflows from these funds will force automatic buying or selling of Li Auto shares — something to keep an eye on.

For now, the new Li L9 is rolling out, but the market is waiting for the earnings report to see if the numbers can turn the tide.