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What’s Going On With NIO Inventory? – NIO (NYSE:NIO)

NIO Inc – ADR NIO shares are buying and selling decrease by 2.6% to $5.91 Thursday morning. Shares of a number of electrical car shares are buying and selling decrease after Tesla Inc reported worse-than-expected fourth-quarter monetary outcomes.

Tesla and NIO are rivals within the electrical car market. Any earnings or developments associated to Tesla’s market share, new merchandise, or efficiency can affect investor perceptions of NIO’s aggressive place.

If traders see a downturn or challenges within the electrical car sector, they may dump not solely Tesla but in addition different associated shares.

What Occurred With Tesla Earnings?

Within the fourth quarter, Tesla reported income of $25.17 billion, a 3% enhance in comparison with the earlier yr however barely under the estimated $25.62 billion. Automotive income, particularly, reached $21.56 billion, reflecting a 1% year-over-year enhance.

Regardless of earnings per share being 71 cents, lacking the consensus estimate of 74 cents, Tesla attributed this to the affect of elevated car deliveries with decrease common promoting costs on each income and earnings…Learn Extra

Based on information from Benzinga Professional, NIO has a 52-week excessive of $16.18 and a 52-week low of $5.80.

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