NIO Stock – Why NYSE: NIO Felled
What took place Many stocks in the electric vehicle (EV) sector are sinking today, and Chinese EV developer NIO (NYSE: NIO) is no exception. 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 nowadays, although the outcomes should not be worrying investors in the industry. Li Auto noted a surprise profit for its fourth quarter, which may bode very well for what NIO has to point out if this reports on Monday, March 1.
however, investors are actually 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 companies offer slightly different products. Li’s One SUV was developed to deliver a certain niche in China. It contains a little fuel engine onboard which could be used 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 and 17,353 within 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 today’s drop, shares have, according to FintechZoom, actually fallen more than 20 % at highs earlier this season. NIO’s earnings on Monday can help alleviate investor anxiety over the stock’s of good valuation. But for now, a correction continues to be under way.
NIO Stock – Why NYSE: NIO Felled Yesterday