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LI’s total revenues declined 13.8% sequentially to $545.68 million for the first quarter ended March 31, 2021, while its net loss for the quarter increased 54% year-over-year to $54.94 million. Even though several countries are focusing on ramping up domestic semiconductor chip production, the global chip shortage may last until 2023, which could be detrimental to LI’s growth. Moreover, there has been a significant decline in hedge funds’ interest in the stock. So, LI’s near-term prospects look bleak.
Here’s what I think could influence LI’s performance in the near term:
