NIO Stock – Why NIO Stock Dropped Yesterday
NIO Stock – Why NYSE: NIO Felled Yesterday
What happened Many stocks in the electric-vehicle (EV) sector are actually sinking these days, and Chinese EV producer NIO (NYSE: NIO) is no different. With its fourth-quarter and full-year 2020 earnings looming, shares dropped almost as 10 % Thursday and remain down 7.6 % as of 2:45 p.m. EST.
Li Auto (NASDAQ: LI)
So what Fellow Chinese EV developer Li Auto (NASDAQ: LI) noted its fourth quarter earnings today, though the outcomes shouldn’t be frightening investors in the industry. Li Auto noted a surprise gain for its fourth quarter, which could bode well for what NIO has to say if this reports on Monday, March 1.
however, investors are knocking back stocks of these high fliers today after lengthy runs brought huge valuations.
Li Auto noted a surprise positive net revenue of $16.5 million because of its fourth quarter. While NIO competes with LI Auto, the businesses provide somewhat different products. Li’s One SUV was developed to deliver a specific niche in China. It provides a small fuel engine onboard which could be used 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 and 17,353 within its fourth quarter. These represented 352 % as well as 111 % year-over-year gains, respectively. NIO Stock not too long ago 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 20 % from your highs earlier this season. NIO’s earnings on Monday could help soothe investor stress over the stock’s of exceptional valuation. But for today, a correction continues to be under way.
NIO Stock – Why NYSE: NIO Dropped