NIO Stock – Why NIO Stock Felled Yesterday
What happened Many stocks in the electric vehicle (EV) sector are sinking these days, and Chinese EV producer NIO (NYSE: NIO) is no exception. With its fourth quarter and full-year 2020 earnings looming, shares fallen almost as ten % Thursday and stay lower 7.6 % as of 2:45 p.m. EST.
Li Auto (NASDAQ: LI)
So what Fellow Chinese EV developer Li Auto (NASDAQ: LI) noted its fourth quarter earnings today, but the benefits should not be frightening investors in the sector. Li Auto noted a surprise gain for the fourth quarter of its, which can bode well for what NIO has to tell you if this reports on Monday, March one.
although investors are knocking back stocks of those high fliers today after lengthy runs brought high valuations.
Li Auto noted a surprise positive net revenue of $16.5 million because of its fourth quarter. While NIO competes with LI Auto, the companies give slightly different products. Li’s One SUV was created to serve a certain niche in China. It contains a small gas engine onboard that can 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 and 17,353 within its fourth quarter. These represented 352 % along with 111 % year-over-year profits, respectively. NIO Stock recently announced its very first luxury sedan, the ET7, that will also have a new longer-range battery option.
Including today’s drop, shares have, according to FintechZoom, already fallen more than twenty % at highs earlier this season. NIO’s earnings on Monday might help ease investor stress over the stock’s high valuation. But for today, a correction stays under way.
NIO Stock – Why NIO Stock Felled Thursday