NIO Stock – Why NIO Stock Felled Thursday
What happened Many stocks in the electric vehicle (EV) sector are actually sinking today, and Chinese EV maker NIO (NYSE: NIO) is no exception. With its fourth quarter and full-year 2020 earnings looming, shares fallen as much as ten % Thursday and remain downwards 7.6 % as of 2:45 p.m. EST.
Li Auto (NASDAQ: LI)
So what Fellow Chinese EV producer Li Auto (NASDAQ: LI) reported its fourth quarter earnings today, although the outcomes should not be worrying investors in the sector. Li Auto reported a surprise gain for its fourth quarter, which can bode very well for what NIO has got to say in the event it reports on Monday, March 1.
although investors are actually knocking back stocks of those top fliers today after extended runs brought huge valuations.
Li Auto reported a surprise optimistic net revenue of $16.5 million because of its fourth quarter. While NIO competes with LI Auto, the companies give somewhat different products. Li’s One SUV was designed to offer a certain niche in China. It contains a tiny fuel engine onboard that can be used to recharge the batteries of its, allowing for longer traveling between charging stations.
NIO (NYSE: NIO)
NIO stock delivered 7,225 cars in January 2021 plus 17,353 throughout its fourth quarter. These represented 352 % and 111 % year-over-year profits, respectively. NIO Stock just recently announced its very first high end sedan, the ET7, that will also have a new longer-range battery option.
Including present day drop, shares have, according to FintechZoom, already fallen more than twenty % at highs earlier this year. NIO’s earnings on Monday might help relieve investor anxiety over the stock’s top valuation. But for now, a correction continues to be under way.
NIO Stock – Why NYSE: NIO Felled Thursday