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 no different. With its fourth quarter and full-year 2020 earnings looming, shares decreased almost as 10 % Thursday and remain lower 7.6 % as of 2:45 p.m. EST.
Li Auto (NASDAQ: LI)
So what Fellow Chinese EV developer Li Auto (NASDAQ: LI) claimed its fourth-quarter earnings nowadays, although the benefits should not be frightening investors in the industry. Li Auto noted a surprise profit for its fourth quarter, which could bode very well for what NIO has to point out in the event it reports on Monday, March 1.
But investors are knocking back stocks of those top fliers today after extended runs brought high valuations.
Li Auto noted a surprise optimistic net revenue of $16.5 million because of its fourth quarter. While NIO competes with LI Auto, the businesses offer somewhat different products. Li’s One SUV was developed to serve a certain niche in China. It contains a tiny gasoline engine onboard which can be used to recharge the batteries of its, allowing for longer traveling 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 % as well as 111 % year-over-year profits, respectively. NIO Stock recently announced its first luxury 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 % at highs earlier this season. NIO’s earnings on Monday might help alleviate investor anxiety over the stock’s top valuation. But for today, a correction continues to be under way.
NIO Stock – Why NYSE: NIO Felled