NIO Stock – Why NYSE: NIO Felled Thursday
What happened Many stocks in the electric-vehicle (EV) sector are actually sinking today, and Chinese EV producer NIO (NYSE: NIO) is actually no exception. With its fourth-quarter and full-year 2020 earnings looming, shares fallen pretty much as ten % Thursday and stay down 7.6 % as of 2:45 p.m. EST.
Li Auto (NASDAQ: LI)
So what Fellow Chinese EV developer Li Auto (NASDAQ: LI) noted its fourth-quarter earnings today, however, the results should not be unnerving investors in the sector. Li Auto reported a surprise gain for its fourth quarter, which may bode very well for what NIO has to tell you when it reports on Monday, March 1.
although investors are knocking back stocks of those top fliers today after extended runs brought high valuations.
Li Auto noted a surprise optimistic net revenue of $16.5 million because of its fourth quarter. While NIO competes with LI Auto, the companies provide somewhat different products. Li’s One SUV was designed to deliver a certain niche in China. It contains a small gas engine onboard that could be harnessed to recharge its batteries, allowing for longer travel between charging stations.
NIO (NYSE: NIO)
NIO stock delivered 7,225 vehicles in January 2021 and 17,353 throughout its fourth quarter. These represented 352 % along with 111 % year-over-year profits, respectively. NIO Stock recently announced its first deluxe sedan, the ET7, which will also have a new longer range battery option.
Including today’s drop, shares have, according to FintechZoom, already fallen more than 20 % from your highs earlier this year. NIO’s earnings on Monday could help soothe investor stress over the stock’s high valuation. But for today, a correction is still under way.
NIO Stock – Why NYSE: NIO Dropped Thursday