NIO Stock – Why NYSE: NIO Felled Thursday
What occurred Many stocks in the electric vehicle (EV) sector are actually sinking these days, and Chinese EV developer NIO (NYSE: NIO) is no exception. With its fourth-quarter and full-year 2020 earnings looming, shares fallen as much as 10 % Thursday and stay down 7.6 % as of 2:45 p.m. EST.
Li Auto (NASDAQ: LI)
So what Fellow Chinese EV developer Li Auto (NASDAQ: LI) noted its fourth-quarter earnings today, but the results shouldn’t be scaring investors in the industry. Li Auto noted a surprise profit for the fourth quarter of its, which can bode very well for what NIO has to say if this reports on Monday, March 1.
however, investors are actually knocking back stocks of those top fliers today after extended runs brought high 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 somewhat different products. Li’s One SUV was developed to deliver a specific niche in China. It contains a small gas engine onboard which may 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 and 17,353 within its fourth quarter. These represented 352 % along with 111 % year-over-year benefits, respectively. NIO Stock recently announced its very first deluxe 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 20 % from highs earlier this year. NIO’s earnings on Monday might help alleviate investor stress over the stock’s of exceptional valuation. But for today, a correction continues to be under way.
NIO Stock – Why NYSE: NIO Felled Yesterday