NIO Stock – Why NYSE: NIO Dropped Yesterday
What took place Many stocks in the electric-vehicle (EV) sector are actually sinking today, and Chinese EV producer NIO (NYSE: NIO) is no exception. With its fourth-quarter and full-year 2020 earnings looming, shares dropped almost as ten % Thursday and remain lower 7.6 % as of 2:45 p.m. EST.
Li Auto (NASDAQ: LI)
So what Fellow Chinese EV maker Li Auto (NASDAQ: LI) noted its fourth quarter earnings nowadays, though the results shouldn’t be worrying investors in the sector. Li Auto reported a surprise gain for the fourth quarter of its, which may bode well for what NIO has to point out when it reports on Monday, March 1.
although investors are knocking back stocks of those top fliers today after lengthy runs brought high valuations.
Li Auto noted a surprise optimistic net revenue of $16.5 million for its fourth quarter. While NIO competes with LI Auto, the companies provide slightly different products. Li’s One SUV was designed to offer a specific niche in China. It contains a tiny gas engine onboard which may be used to recharge the batteries of its, allowing for longer travel between charging stations.
NIO (NYSE: NIO)
NIO stock delivered 7,225 vehicles in January 2021 as well as 17,353 throughout its fourth quarter. These represented 352 % and 111 % year-over-year gains, respectively. NIO Stock not too long ago announced its very first high end sedan, the ET7, which will also have a new longer range battery option.
Including present day drop, shares have, according to FintechZoom, actually fallen more than twenty % from highs earlier this season. NIO’s earnings on Monday might help alleviate investor stress over the stock’s of exceptional valuation. But for now, a correction remains under way.
NIO Stock – Why NYSE: NIO Felled Thursday