NIO Stock – Why NYSE: NIO Felled Thursday
What took place Many stocks in the electric-vehicle (EV) sector are sinking today, and Chinese EV maker NIO (NYSE: NIO) is actually no different. With its fourth quarter and full-year 2020 earnings looming, shares fallen pretty much as ten % Thursday and stay 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 today, however, the benefits should not be worrying investors in the industry. Li Auto noted a surprise benefit for the fourth quarter of its, which may bode well for what NIO has to tell you in the event it reports on Monday, March one.
Though investors are knocking back stocks of these top fliers today after lengthy runs brought huge valuations.
Li Auto noted a surprise optimistic net income of $16.5 million for its fourth quarter. While NIO competes with LI Auto, the companies offer slightly different products. Li’s One SUV was created to deliver a specific niche in China. It includes a little gasoline 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 vehicles in January 2021 as well as 17,353 within its fourth quarter. These represented 352 % along with 111 % year-over-year benefits, respectively. NIO Stock recently announced its very 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, actually fallen more than twenty % from highs earlier this season. NIO’s earnings on Monday might help soothe investor stress over the stock’s top valuation. But for now, a correction continues to be under way.
NIO Stock – Why NIO Stock Felled Thursday