NIO Stock – Why NYSE: NIO Felled
What took place Many stocks in the electric-vehicle (EV) sector are actually sinking these days, and Chinese EV developer NIO (NYSE: NIO) is no different. With its fourth quarter and full-year 2020 earnings looming, shares fallen as much 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) noted its fourth-quarter earnings nowadays, although the results shouldn’t be frightening investors in the industry. Li Auto noted a surprise gain for its fourth quarter, which could bode well for what NIO has got to point out if this reports on Monday, March 1.
however, investors are actually knocking back stocks of these top fliers today after extended runs brought huge valuations.
Li Auto reported a surprise positive net revenue of $16.5 million for its fourth quarter. While NIO competes with LI Auto, the companies provide somewhat different products. Li’s One SUV was created to serve a certain niche in China. It provides a tiny gas engine onboard which can be harnessed to recharge its batteries, allowing for longer travel between charging stations.
NIO (NYSE: NIO)
NIO stock delivered 7,225 vehicles in January 2021 and 17,353 in its fourth quarter. These represented 352 % as well as 111 % year-over-year profits, respectively. NIO Stock not too long ago 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, by now fallen more than 20 % from your highs earlier this season. NIO’s earnings on Monday can help soothe investor stress over the stock’s high valuation. But for now, a correction continues to be under way.
NIO Stock – Why NIO Stock Felled Yesterday