NIO Stock – Why NYSE: NIO Dropped
What took place Many stocks in the electric-vehicle (EV) sector are actually sinking these days, and Chinese EV maker NIO (NYSE: NIO) is actually no exception. With its fourth-quarter and full year 2020 earnings looming, shares fallen pretty much as ten % Thursday and stay lower 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 results should not be unnerving investors in the sector. Li Auto noted a surprise profit for the fourth quarter of its, which may bode very well for what NIO has got to say in the event it reports on Monday, March one.
although investors are knocking back stocks of these top fliers today after extended runs brought huge valuations.
Li Auto reported a surprise positive net income of $16.5 million because of its fourth quarter. While NIO competes with LI Auto, the companies provide slightly different products. Li’s One SUV was developed to serve a certain niche in China. It includes a small fuel engine onboard which can be utilized 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 plus 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 luxury sedan, the ET7, that will also have a new longer range battery option.
Including today’s drop, shares have, according to FintechZoom, by now fallen more than twenty % from highs earlier this season. NIO’s earnings on Monday could help relieve investor nervousness over the stock’s top valuation. But for today, a correction remains under way.
NIO Stock – Why NYSE: NIO Felled