NIO Stock – Why NIO Stock Felled Yesterday
What happened Many stocks in the electric-vehicle (EV) sector are sinking these days, and Chinese EV developer NIO (NYSE: NIO) is actually no exception. 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 maker Li Auto (NASDAQ: LI) noted its fourth-quarter earnings nowadays, although the results should not be unnerving investors in the industry. Li Auto noted a surprise profit for its fourth quarter, which can bode very well for what NIO has to say in the event it reports on Monday, March 1.
however, investors are actually knocking back stocks of these top fliers today after lengthy runs brought high valuations.
Li Auto noted a surprise positive net revenue of $16.5 million because of its fourth quarter. While NIO competes with LI Auto, the companies provide slightly different products. Li’s One SUV was developed to serve a certain niche in China. It provides a small fuel engine onboard which can be utilized to recharge its batteries, allowing for longer traveling between charging stations.
NIO (NYSE: NIO)
NIO stock delivered 7,225 cars in January 2021 as well as 17,353 in its fourth quarter. These represented 352 % as well as 111 % year-over-year benefits, respectively. NIO Stock not too long ago announced its very first luxury sedan, the ET7, that will also have a new longer range battery option.
Including present day drop, shares have, according to FintechZoom, by now fallen more than twenty % at highs earlier this season. NIO’s earnings on Monday might help alleviate investor stress over the stock’s high valuation. But for today, a correction remains under way.
NIO Stock – Why NIO Stock Felled Thursday