NIO Stock - Why NIO Stock Felled Thursday
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 exception. With its fourth-quarter and full year 2020 earnings looming, shares fallen pretty much as ten % Thursday and remain down 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, though the benefits shouldn't be scaring investors in the industry. Li Auto noted a surprise benefit for its fourth quarter, which may bode well for what NIO has to say when it reports on Monday, March 1.
although investors are knocking back stocks of these high fliers today after lengthy runs brought high valuations.
Li Auto noted a surprise positive net income of $16.5 million for its fourth quarter. While NIO competes with LI Auto, the businesses provide somewhat different products. Li's One SUV was developed to serve a specific niche in China. It provides a little fuel engine onboard that can be harnessed to recharge the batteries of its, allowing for longer travel between charging stations.
NIO (NYSE: NIO)
NIO stock delivered 7,225 vehicles in January 2021 and 17,353 in its fourth quarter. These represented 352 % as well as 111 % year-over-year profits, respectively. NIO Stock just recently announced its very first luxury 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 twenty % from highs earlier this year. NIO's earnings on Monday could help relieve investor stress over the stock's of good valuation. But for today, a correction continues to be under way.
NIO Stock - Why NYSE: NIO Felled Yesterday