NIO Stock – Why NIO Stock Felled Thursday
What happened Many stocks in the electric-vehicle (EV) sector are actually sinking these days, and Chinese EV maker NIO (NYSE: NIO) is actually no exception. 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) reported its fourth quarter earnings nowadays, though the results should not be frightening investors in the industry. Li Auto noted a surprise benefit for its fourth quarter, which can bode very well for what NIO has got to say when it reports on Monday, March one.
although investors are actually knocking back stocks of those top fliers today after extended runs brought huge valuations.
Li Auto reported a surprise optimistic net income of $16.5 million because of its fourth quarter. While NIO competes with LI Auto, the companies provide slightly different products. Li’s One SUV was developed to serve a specific niche in China. It includes a tiny gas engine onboard that may 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 as well as 17,353 within its fourth quarter. These represented 352 % and 111 % year-over-year profits, respectively. NIO Stock just recently announced its first luxury 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 soothe investor stress over the stock’s top valuation. But for now, a correction continues to be under way.
NIO Stock – Why NYSE: NIO Felled Yesterday