NIO Stock – Why NYSE: NIO Felled
NIO Stock – Why NYSE: NIO Felled

NIO Stock – Why NYSE: NIO Felled

NIO Stock – Why NYSE: NIO Felled Thursday

What took place Many stocks in the electric vehicle (EV) sector are actually sinking these days, and Chinese EV maker NIO (NYSE: NIO) is no different. With its fourth quarter and full-year 2020 earnings looming, shares fallen as much as 10 % 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, although the results should not be frightening investors in the industry. Li Auto reported a surprise profit for its fourth quarter, which can bode well for what NIO has to point out in the event it reports on Monday, March one.

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

Li Auto noted a surprise positive net revenue of $16.5 million because of its fourth quarter. While NIO competes with LI Auto, the businesses give slightly different products. Li’s One SUV was designed to serve a specific niche in China. It provides a tiny gas engine onboard which may be used to recharge its batteries, allowing for longer traveling between charging stations.

NIO (NYSE: NIO)

NIO stock delivered 7,225 vehicles in January 2021 as well as 17,353 throughout its fourth quarter. These represented 352 % and 111 % year-over-year profits, respectively. NIO  Stock 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, actually fallen more than twenty % from your highs earlier this season. NIO’s earnings on Monday can help alleviate investor nervousness over the stock’s high valuation. But for today, a correction stays under way.

NIO Stock – Why NYSE: NIO Felled Thursday