NIO Stock – Why NYSE: NIO Felled Yesterday
What happened 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 remain down 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, although the outcomes shouldn’t be scaring investors in the industry. Li Auto reported a surprise benefit for the fourth quarter of its, which could bode well for what NIO has to tell you if this reports on Monday, March one.
although investors are actually knocking back stocks of these high fliers today after extended runs brought huge 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 give slightly different products. Li’s One SUV was designed to serve a certain niche in China. It provides a little fuel engine onboard that can be utilized to recharge the batteries of its, allowing for longer traveling between charging stations.
NIO (NYSE: NIO)
NIO stock delivered 7,225 cars in January 2021 and 17,353 throughout its fourth quarter. These represented 352 % and 111 % year-over-year benefits, respectively. NIO Stock just 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 % at highs earlier this year. NIO’s earnings on Monday might help alleviate investor stress over the stock’s top valuation. But for now, a correction stays under way.
NIO Stock – Why NIO Stock Dropped