Categories
Markets

NIO Stock – Why NYSE: NIO Dropped Yesterday

NIO Stock – Why NIO Stock Felled Yesterday

What happened Many stocks in the electric vehicle (EV) sector are sinking today, and Chinese EV developer NIO (NYSE: NIO) is actually no different. With its fourth quarter and full-year 2020 earnings looming, shares fallen pretty much as 10 % Thursday and remain downwards 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, though the outcomes should not be unnerving investors in the industry. Li Auto reported a surprise profit for its fourth quarter, which can bode well for what NIO has got to tell you when it reports on Monday, March 1.

Though investors are actually knocking back stocks of those high fliers today after extended runs brought high valuations.

Li Auto reported a surprise optimistic net revenue of $16.5 million because of its fourth quarter. While NIO competes with LI Auto, the companies offer slightly different products. Li’s One SUV was developed to serve a certain niche in China. It provides a small fuel engine onboard which 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 and 17,353 throughout its fourth quarter. These represented 352 % as well as 111 % year-over-year benefits, respectively. NIO  Stock recently announced its first high end sedan, the ET7, that will also have a new longer-range battery option.

Including today’s drop, shares have, according to FintechZoom, already fallen more than 20 % from your highs earlier this season. NIO’s earnings on Monday could help soothe investor nervousness over the stock’s of good valuation. But for today, a correction remains under way.

NIO Stock – Why NIO Stock Felled Yesterday

Leave a Reply

Your email address will not be published. Required fields are marked *