NIO Stock - Why NYSE: NIO Felled Yesterday
What took place Many stocks in the electric-vehicle (EV) sector are actually sinking these days, and Chinese EV producer NIO (NYSE: NIO) is actually no different. With its fourth-quarter and full year 2020 earnings looming, shares dropped almost as ten % Thursday and stay lower 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 today, although the outcomes should not be frightening investors in the sector. Li Auto noted a surprise benefit for the fourth quarter of its, which may bode well for what NIO has got to point out when it reports on Monday, March 1.
however, investors are actually knocking back stocks of those high fliers today after extended 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 businesses provide slightly different products. Li's One SUV was designed to serve a certain niche in China. It contains a small fuel engine onboard that can be used to recharge the batteries of its, allowing for longer travel between charging stations.
NIO (NYSE: NIO)
NIO stock delivered 7,225 cars in January 2021 and 17,353 within its fourth quarter. These represented 352 % as well as 111 % year-over-year benefits, respectively. NIO Stock recently announced its first high end sedan, the ET7, which will also have a new longer-range battery option.
Including today's drop, shares have, according to FintechZoom, already fallen more than 20 % from highs earlier this year. NIO's earnings on Monday could help soothe investor nervousness over the stock's top valuation. But for now, a correction is still under way.
NIO Stock - Why NIO Stock Felled