NIO Stock – Why NIO Stock Felled
What happened Many stocks in the electric-vehicle (EV) sector are 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 dropped 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 maker Li Auto (NASDAQ: LI) noted its fourth-quarter earnings today, though the outcomes shouldn’t be unnerving investors in the industry. Li Auto noted a surprise benefit for the fourth quarter of its, which can bode very well for what NIO has got to tell you when it reports on Monday, March 1.
Though investors are knocking back stocks of those top fliers today after lengthy runs brought high 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 provide somewhat different products. Li’s One SUV was developed to offer a specific niche in China. It contains a small 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 in its fourth quarter. These represented 352 % and 111 % year-over-year benefits, respectively. NIO Stock just recently announced its first deluxe sedan, the ET7, which will also have a new longer range battery option.
Including today’s drop, shares have, according to FintechZoom, actually fallen more than twenty % from your highs earlier this season. NIO’s earnings on Monday might help alleviate investor anxiety over the stock’s of exceptional valuation. But for now, a correction remains under way.
NIO Stock – Why NIO Stock Felled Yesterday