NIO Stock – Why NIO Stock Dropped Yesterday
What took place Many stocks in the electric-vehicle (EV) sector are sinking today, and Chinese EV developer NIO (NYSE: NIO) is actually no exception. With its fourth quarter and full year 2020 earnings looming, shares fallen almost as ten % Thursday and remain downwards 7.6 % as of 2:45 p.m. EST.
Li Auto (NASDAQ: LI)
So what Fellow Chinese EV producer Li Auto (NASDAQ: LI) noted its fourth-quarter earnings nowadays, although the results shouldn’t be frightening investors in the industry. Li Auto noted a surprise gain for the fourth quarter of its, which could bode very well for what NIO has to point out when it reports on Monday, March one.
however, investors are actually knocking back stocks of these high fliers today after extended runs brought huge valuations.
Li Auto reported a surprise optimistic net revenue 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 designed to offer a specific niche in China. It contains a little fuel engine onboard which 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 throughout its fourth quarter. These represented 352 % along with 111 % year-over-year benefits, respectively. NIO Stock just recently announced its first deluxe 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 twenty % from your highs earlier this season. NIO’s earnings on Monday might help soothe investor stress over the stock’s high valuation. But for today, a correction remains under way.
NIO Stock – Why NYSE: NIO Felled Thursday