NIO Stock – Why NYSE: NIO Felled Yesterday
What took place Many stocks in the electric-vehicle (EV) sector are actually sinking these days, and Chinese EV maker NIO (NYSE: NIO) is actually no different. With its fourth quarter and full year 2020 earnings looming, shares decreased as much as 10 % Thursday and remain lower 7.6 % as of 2:45 p.m. EST.
Li Auto (NASDAQ: LI)
So what Fellow Chinese EV maker Li Auto (NASDAQ: LI) claimed its fourth quarter earnings today, although the outcomes should not be scaring investors in the industry. Li Auto reported a surprise gain for the fourth quarter of its, which may bode very well for what NIO has to tell you in the event it reports on Monday, March 1.
although investors are knocking back stocks of these top fliers today after lengthy runs brought high valuations.
Li Auto noted a surprise optimistic net income of $16.5 million because of its fourth quarter. While NIO competes with LI Auto, the businesses provide slightly different products. Li’s One SUV was created to serve a specific niche in China. It includes a little fuel engine onboard which can 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 % and 111 % year-over-year benefits, respectively. NIO Stock just recently announced its first luxury sedan, the ET7, which will also have a new longer range battery option.
Including present day drop, shares have, according to FintechZoom, actually fallen more than 20 % from highs earlier this year. NIO’s earnings on Monday could help alleviate investor stress over the stock’s top valuation. But for now, a correction remains under way.
NIO Stock – Why NIO Stock Dropped Yesterday