NIO Stock – Why NYSE: NIO Felled
What took place Many stocks in the electric vehicle (EV) sector are sinking today, 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 ten % Thursday and stay down 7.6 % as of 2:45 p.m. EST.
Li Auto (NASDAQ: LI)
So what Fellow Chinese EV producer Li Auto (NASDAQ: LI) claimed its fourth-quarter earnings nowadays, but the results shouldn’t be scaring investors in the sector. Li Auto noted a surprise gain for its fourth quarter, which could bode well for what NIO has got to say if this reports on Monday, March one.
although investors are actually knocking back stocks of these high fliers today after lengthy runs brought high valuations.
Li Auto noted a surprise positive net income of $16.5 million because of its fourth quarter. While NIO competes with LI Auto, the businesses offer slightly different products. Li’s One SUV was developed to deliver a specific niche in China. It provides a tiny gas engine onboard that may be harnessed 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 % along with 111 % year-over-year gains, respectively. NIO Stock not too long ago announced its first luxury sedan, the ET7, which will also have a new longer range battery option.
Including present day drop, shares have, according to FintechZoom, already fallen more than twenty % from your highs earlier this season. NIO’s earnings on Monday could help soothe investor stress over the stock’s high valuation. But for today, a correction stays under way.
NIO Stock – Why NYSE: NIO Dropped Thursday