NIO Stock – Why NYSE: NIO Felled Yesterday
What occurred Many stocks in the electric-vehicle (EV) sector are sinking these days, and Chinese EV developer NIO (NYSE: NIO) is no different. With its fourth-quarter and full year 2020 earnings looming, shares fallen almost as 10 % 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) reported its fourth quarter earnings nowadays, although the results should not be scaring investors in the sector. Li Auto noted a surprise profit for the fourth quarter of its, which can bode very well for what NIO has got to point out if this reports on Monday, March one.
however, investors are knocking back stocks of those top fliers today after extended runs brought huge valuations.
Li Auto noted a surprise positive net earnings of $16.5 million for its fourth quarter. While NIO competes with LI Auto, the businesses offer slightly different products. Li’s One SUV was developed to serve a certain niche in China. It contains a little gasoline engine onboard that could be harnessed to recharge its batteries, allowing for longer traveling 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 % as well as 111 % year-over-year profits, respectively. NIO Stock not too long ago announced its very first luxury 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 % at highs earlier this season. NIO’s earnings on Monday might help soothe investor nervousness over the stock’s of exceptional valuation. But for today, a correction continues to be under way.
NIO Stock – Why NYSE: NIO Dropped Yesterday