Categories
Markets

NIO Stock – Why NIO Stock Dropped Thursday

NIO Stock – Why NYSE: NIO Felled Thursday

What happened Many stocks in the electric vehicle (EV) sector are actually sinking today, and Chinese EV maker NIO (NYSE: NIO) is no different. With its fourth quarter and full-year 2020 earnings looming, shares dropped 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 producer Li Auto (NASDAQ: LI) noted its fourth-quarter earnings nowadays, however, the results should not be frightening investors in the industry. Li Auto reported a surprise profit for its fourth quarter, which can bode very well for what NIO has got to point out if this reports on Monday, March one.

however, investors are knocking back stocks of these high fliers today after extended runs brought high valuations.

Li Auto reported a surprise positive net revenue of $16.5 million because of its fourth quarter. While NIO competes with LI Auto, the companies offer slightly different products. Li’s One SUV was designed to serve a specific niche in China. It contains a small gasoline engine onboard that could be utilized to recharge its batteries, allowing for longer traveling between charging stations.

NIO (NYSE: NIO)

NIO stock delivered 7,225 vehicles 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 high end 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 20 % from highs earlier this season. NIO’s earnings on Monday can help ease investor nervousness over the stock’s top valuation. But for today, a correction remains under way.

NIO Stock – Why NYSE: NIO Felled Thursday

Leave a Reply

Your email address will not be published. Required fields are marked *