NIO Stock – Why NYSE: NIO Felled Yesterday
What occurred Many stocks in the electric-vehicle (EV) sector are sinking these days, and Chinese EV producer NIO (NYSE: NIO) is no different. With its fourth-quarter and full-year 2020 earnings looming, shares decreased almost as ten % Thursday and remain down 7.6 % as of 2:45 p.m. EST.
Li Auto (NASDAQ: LI)
So what Fellow Chinese EV developer Li Auto (NASDAQ: LI) reported its fourth-quarter earnings today, however, the results should not be scaring investors in the sector. Li Auto reported a surprise profit for the fourth quarter of its, which can bode well for what NIO has got to point out if this reports on Monday, March one.
although investors are actually knocking back stocks of those top fliers today after extended runs brought high valuations.
Li Auto noted a surprise positive net revenue of $16.5 million for its fourth quarter. While NIO competes with LI Auto, the businesses provide slightly different products. Li’s One SUV was created to deliver a certain niche in China. It contains a little 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 plus 17,353 throughout its fourth quarter. These represented 352 % along with 111 % year-over-year profits, respectively. NIO Stock not too long ago announced its very first deluxe sedan, the ET7, that will also have a new longer-range battery option.
Including today’s drop, shares have, according to FintechZoom, by now fallen more than twenty % from highs earlier this year. NIO’s earnings on Monday might help ease investor anxiety over the stock’s top valuation. But for today, a correction stays under way.
NIO Stock – Why NYSE: NIO Dropped