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Ranking among the stars of the equities market during the post-pandemic surge, Chinese electric vehicle manufacturer Nio (NIO) looks set to print a sizable loss this year. Down more than 20% since the January opener, NIO stock happened to suffer a 50% haircut since the close of the Aug. 3 session.
Not necessarily helping to comprehensively assuage concerns was the company’s third-quarter earnings print. To be sure, Nio rang up sales of $2.6 billion, representing a 47% year-over-year lift. Also, deliveries jumped 75% YOY and gained 136% against the prior quarter sequentially. That was huge because deliveries had started to fade in recent quarters.
