Nio (NIO) recently reported its cumulative deliveries surpassed 1 million after handing over 27,182 vehicles in January, up a remarkable 96.1% on a year-over-year basis. Yet, despite this high-voltage headline, the electric vehicle (EV) stock short-circuited, losing nearly 5% and dragging the price below a key moving average (20-day) on Feb. 2.
Why? Because investors focused more on the sequential decline. On a month-to-month basis, Nio’s deliveries came in down an alarming 44% in January.
