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 maker NIO (NYSE: NIO) is actually no different. With its fourth-quarter and full year 2020 earnings looming, shares dropped almost as ten % Thursday and stay downwards 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 today, but the outcomes shouldn’t be worrying investors in the sector. Li Auto noted a surprise profit for the fourth quarter of its, which may bode well for what NIO has to say if this reports on Monday, March one.
however, investors are knocking back stocks of those high fliers today after extended runs brought huge valuations.
Li Auto noted a surprise positive net income 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 serve a specific niche in China. It contains a little fuel engine onboard that may be utilized to recharge the batteries of its, allowing for longer travel between charging stations.
NIO (NYSE: NIO)
NIO stock delivered 7,225 cars in January 2021 plus 17,353 in its fourth quarter. These represented 352 % and 111 % year-over-year benefits, respectively. NIO Stock not too long ago announced its 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, actually fallen more than 20 % at highs earlier this year. NIO’s earnings on Monday can help alleviate investor stress over the stock’s top valuation. But for today, a correction continues to be under way.
NIO Stock – Why NYSE: NIO Dropped Yesterday