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 developer NIO (NYSE: NIO) is actually no different. With its fourth-quarter and full year 2020 earnings looming, shares decreased 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 producer Li Auto (NASDAQ: LI) claimed its fourth-quarter earnings nowadays, however, the results should not be unnerving investors in the industry. Li Auto reported a surprise profit for the fourth quarter of its, which may bode well for what NIO has to tell you if this reports on Monday, March one.
although investors are actually knocking back stocks of those high fliers today after extended runs brought huge valuations.
Li Auto reported a surprise positive net earnings of $16.5 million for its fourth quarter. While NIO competes with LI Auto, the companies offer slightly different products. Li’s One SUV was developed to offer a certain niche in China. It provides a tiny fuel engine onboard which may 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 as well as 17,353 in its fourth quarter. These represented 352 % along with 111 % year-over-year profits, respectively. NIO Stock recently announced its very first deluxe 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 twenty % from highs earlier this season. NIO’s earnings on Monday can help relieve investor anxiety over the stock’s of good valuation. But for today, a correction is still under way.
NIO Stock – Why NIO Stock Felled Yesterday