NIO Stock – Why NYSE: NIO Felled Thursday
What happened Many stocks in the electric-vehicle (EV) sector are sinking these days, and Chinese EV producer NIO (NYSE: NIO) is actually no exception. With its fourth-quarter and full year 2020 earnings looming, shares fallen 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 maker Li Auto (NASDAQ: LI) noted its fourth-quarter earnings today, but the results should not be unnerving investors in the sector. Li Auto reported a surprise profit for the fourth quarter of its, which can bode very well for what NIO has to say when it reports on Monday, March one.
although investors are knocking back stocks of these top fliers today after lengthy 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 businesses give somewhat different products. Li’s One SUV was designed to serve a specific niche in China. It provides a little gasoline engine onboard which may be utilized to recharge the batteries of its, allowing for longer travel 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 not too long ago announced its first luxury sedan, the ET7, that will also have a new longer range battery option.
Including today’s drop, shares have, according to FintechZoom, actually fallen more than twenty % at highs earlier this season. NIO’s earnings on Monday can help ease investor anxiety over the stock’s top valuation. But for now, a correction is still under way.
NIO Stock – Why NIO Stock Dropped Thursday