NIO Stock – Why NIO Stock Felled
What happened Many stocks in the electric-vehicle (EV) sector are actually sinking today, and Chinese EV maker 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 down 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, however, the outcomes shouldn’t be scaring investors in the sector. Li Auto reported a surprise profit for its fourth quarter, which could bode very well for what NIO has got to say if this reports on Monday, March 1.
although investors are actually knocking back stocks of those high fliers today after extended runs brought huge 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 businesses provide somewhat different products. Li’s One SUV was developed to serve a specific niche in China. It contains a tiny gas engine onboard that could be utilized 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 plus 17,353 in its fourth quarter. These represented 352 % and 111 % year-over-year gains, respectively. NIO Stock recently announced its very first deluxe sedan, the ET7, which will also have a new longer range battery option.
Including present day drop, shares have, according to FintechZoom, by now fallen more than 20 % from highs earlier this year. NIO’s earnings on Monday can help soothe investor anxiety over the stock’s of good valuation. But for today, a correction is still under way.
NIO Stock – Why NYSE: NIO Felled