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 producer NIO (NYSE: NIO) is actually no exception. With its fourth-quarter and full-year 2020 earnings looming, shares fallen pretty much as 10 % Thursday and remain downwards 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, but the benefits shouldn’t be unnerving investors in the industry. Li Auto reported a surprise profit for the fourth quarter of its, which could bode well for what NIO has got to say in the event it reports on Monday, March 1.
Though investors are knocking back stocks of those high fliers today after lengthy runs brought high valuations.
Li Auto reported a surprise positive net income of $16.5 million because of its fourth quarter. While NIO competes with LI Auto, the businesses provide slightly different products. Li’s One SUV was developed to serve a certain niche in China. It provides a little gas engine onboard that can be utilized to recharge its batteries, allowing for longer traveling 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 % and 111 % year-over-year profits, respectively. NIO Stock recently announced its very first high end sedan, the ET7, which will also have a new longer-range battery option.
Including today’s drop, shares have, according to FintechZoom, already fallen more than 20 % from your highs earlier this season. NIO’s earnings on Monday might help ease investor stress over the stock’s of good valuation. But for today, a correction stays under way.
NIO Stock – Why NIO Stock Dropped Yesterday