NIO Stock – Why NIO Stock Felled Yesterday
What happened Many stocks in the electric-vehicle (EV) sector are actually sinking these days, and Chinese EV maker NIO (NYSE: NIO) is no exception. With its fourth-quarter and full year 2020 earnings looming, shares decreased almost as ten % Thursday and remain lower 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 nowadays, though the outcomes should not be scaring investors in the industry. Li Auto reported a surprise gain for the fourth quarter of its, which could bode very well for what NIO has to point out when it reports on Monday, March one.
however, investors are actually knocking back stocks of those high fliers today after extended runs brought huge valuations.
Li Auto noted a surprise positive net earnings of $16.5 million for its fourth quarter. While NIO competes with LI Auto, the businesses offer slightly different products. Li’s One SUV was developed to deliver a specific niche in China. It includes a small gas engine onboard which could be harnessed to recharge its batteries, allowing for longer traveling between charging stations.
NIO (NYSE: NIO)
NIO stock delivered 7,225 vehicles in January 2021 as well as 17,353 in its fourth quarter. These represented 352 % as well as 111 % year-over-year profits, respectively. NIO Stock not too long ago announced its 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 20 % from your highs earlier this year. NIO’s earnings on Monday can help ease investor anxiety over the stock’s high valuation. But for now, a correction continues to be under way.
NIO Stock – Why NYSE: NIO Dropped Thursday