NIO Stock – Why NYSE: NIO Felled Yesterday
What took place 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, although the outcomes shouldn’t be scaring investors in the sector. Li Auto noted a surprise profit for the fourth quarter of its, which could bode very well for what NIO has to point out when it reports on Monday, March 1.
But investors are knocking back stocks of these high fliers today after extended runs brought huge valuations.
Li Auto reported a surprise positive net revenue of $16.5 million for its fourth quarter. While NIO competes with LI Auto, the companies give somewhat different products. Li’s One SUV was developed to deliver a certain niche in China. It provides a small gas engine onboard which can be used 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 within its fourth quarter. These represented 352 % and 111 % year-over-year benefits, respectively. NIO Stock not too long ago announced its very first high end sedan, the ET7, which 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 your highs earlier this season. NIO’s earnings on Monday might help soothe investor nervousness over the stock’s top valuation. But for now, a correction remains under way.
NIO Stock – Why NYSE: NIO Felled Thursday