Nio Inc (NYSE: NIO) tanked as much as 15% in premarket on Friday after the EV maker reported disappointing earnings for its fourth quarter. The company based out of Shanghai, China generated RMB19.7 billion ($2.7 billion) in revenue in its recently concluded quarter on RMB3.17 of per-share loss.
NIO's net loss unexpectedly widened in the fourth quarter despite stronger sales as the Chinese carmaker faced an intense price war in the world's largest electric-vehicle market.
The Chinese company reported fourth-quarter revenue of $2.7 billion, as the number of EVs it delivered rose 45% from a year ago.
Nio's (NYSE: NIO) February deliveries report showcased strong year-over-year (YoY) growth of 62.2% as the electric vehicle (EV) maker shipped 13,192 cars during the month.
China's electric vehicle (EV) industry is evolving at a breakneck pace. Battery swapping is emerging as a game-changing solution to charging challenges.
NIO's upcoming earnings report on March 21st is crucial, especially after a challenging year with a 10% stock drop and fierce competition. Key areas to watch include NIO's new family ONVO model, the budget Firefly vehicle, and international market strategies amid high tariffs. Despite high cash burn, macroeconomic challenges, and strong competition, NIO remains undervalued, trading at 0.9x NTM Sales, with potential for multiple expansion.
China-based EV company NIO Inc. NIO is slated to release fourth-quarter 2024 results on March 21, before the opening bell. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at a loss of 42 cents a share on revenues of $2.85 billion.
Nio (NIO 3.59%) has been a wildly volatile stock since its IPO in 2018. The Chinese maker of electric vehicles went public at $6.26 per share, and it skyrocketed tenfold to a record high of $62.84 during the buying frenzy in meme stocks in February 2021.
Several Chinese electric vehicle (EV) stocks are surging, defying the broader downturn in U.S. equities, which are experiencing historic losses.
The share price of Chinese electric vehicle (EV) manufacturer Nio (NYSE: NIO) has been sustaining a bullish run over the past month, defying the broader market sell-off.
Shares of Chinese electric vehicle (EV) maker Nio (NIO 10.20%) shot higher by as much as 11.4% this morning. The move pushed Nio's American depositary shares to their highest level of the year.
Shares of Chinese electric-vehicle makers surged in Hong Kong on Tuesday, driven by strong sales forecasts for March and a sharp selloff in Tesla's stock overnight. NIO's shares jumped 8.7% by midday, while XPeng rose 6.2%.