NIO Stock - Why NYSE: NIO Felled Yesterday
What took place Many stocks in the electric-vehicle (EV) sector are sinking these days, and Chinese EV maker NIO (NYSE: NIO) is actually no different. With its fourth quarter and full-year 2020 earnings looming, shares decreased almost as ten % Thursday and remain down 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 benefits shouldn't be unnerving investors in the sector. Li Auto reported a surprise gain for the fourth quarter of its, which may bode very well for what NIO has got to tell you if this reports on Monday, March one.
although investors are actually knocking back stocks of those 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 businesses offer slightly different products. Li's One SUV was designed to deliver a certain niche in China. It contains a tiny gasoline engine onboard that may be harnessed to recharge its batteries, allowing for longer traveling between charging stations.
NIO (NYSE: NIO)
NIO stock delivered 7,225 cars in January 2021 and 17,353 throughout its fourth quarter. These represented 352 % as well as 111 % year-over-year benefits, respectively. NIO Stock just recently 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, already fallen more than 20 % from your highs earlier this season. NIO's earnings on Monday could help relieve investor stress over the stock's high valuation. But for now, a correction continues to be under way.
NIO Stock - Why NYSE: NIO Dropped Yesterday