NIO Stock - Why NIO Stock Felled Yesterday
What took place Many stocks in the electric-vehicle (EV) sector are actually sinking today, and Chinese EV developer 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 producer Li Auto (NASDAQ: LI) noted its fourth quarter earnings nowadays, though the results should not be scaring investors in the industry. Li Auto noted a surprise gain for its fourth quarter, which could bode well for what NIO has to tell you if this reports on Monday, March 1.
however, investors are knocking back stocks of those top fliers today after lengthy runs brought huge valuations.
Li Auto reported a surprise positive net income of $16.5 million for its fourth quarter. While NIO competes with LI Auto, the companies give somewhat different products. Li's One SUV was designed to offer a certain niche in China. It contains a small fuel engine onboard which can be used 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 within its fourth quarter. These represented 352 % along with 111 % year-over-year benefits, respectively. NIO Stock 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, actually fallen more than twenty % from highs earlier this season. NIO's earnings on Monday might help ease investor stress over the stock's top valuation. But for now, a correction stays under way.
NIO Stock - Why NIO Stock Felled Thursday