NIO Stock – Why NYSE: NIO Felled
What happened Many stocks in the electric-vehicle (EV) sector are actually sinking today, and Chinese EV developer NIO (NYSE: NIO) is no different. With its fourth-quarter and full year 2020 earnings looming, shares dropped almost as 10 % Thursday and stay lower 7.6 % as of 2:45 p.m. EST.
Li Auto (NASDAQ: LI)
So what Fellow Chinese EV producer Li Auto (NASDAQ: LI) reported its fourth-quarter earnings nowadays, but the outcomes should not be worrying investors in the sector. Li Auto reported a surprise benefit for the fourth quarter of its, which could bode very well for what NIO has to say if this reports on Monday, March 1.
however, investors are actually knocking back stocks of those high fliers today after lengthy runs brought high valuations.
Li Auto noted a surprise optimistic net earnings of $16.5 million because of its fourth quarter. While NIO competes with LI Auto, the businesses give somewhat different products. Li’s One SUV was developed to offer a specific niche in China. It contains a little gasoline engine onboard which could be used 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 throughout its fourth quarter. These represented 352 % along with 111 % year-over-year profits, respectively. NIO Stock not too long ago announced its very first deluxe sedan, the ET7, which 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 year. NIO’s earnings on Monday could help alleviate investor anxiety over the stock’s of good valuation. But for today, a correction continues to be under way.
NIO Stock – Why NIO Stock Felled