NIO Stock Forecast: Nio Inc snaps decline as growth stock sell off pauses for the session
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UNLOCK OFFER- NYSE:NIO gained 3.07% during Thursday’s trading session.
- Nio is scheduled to hold its Q1 earnings report later on Thursday.
- Nio is partnering with Baidu for its on-board voice operating system.
NYSE:NIO snapped out of its recent decline on Thursday, as the immense selling pressure took a slight pause for at least one session. Shares of NIO added 3.07% and closed the trading day at $13.10. Growth stocks had a breather from the ongoing market sell off, although the broader markets still closed in the red for the day. The Dow Jones fell for its sixth straight session after dropping 103 basis points, the S&P 500 fell by 0.13%, and the NASDAQ eked out a small gain of just 0.06% by the closing bell.
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Nio is scheduled to hold its Q1 earnings call today after the markets close. Investors are optimistic for Nio after rival Li Auto (NASDAQ:LI) reported a blowout quarter on Tuesday. Li Auto reported earnings of $0.07 per share compared to an expected loss of $0.01 per share for the quarter. On Thursday, Rivian (NASDAQ:RIVN) also reported a positive earnings report, signalling that the EV sector might be ready to turn a corner here. Rivian also maintained its production goal of 25,000 EVs for 2022, which is a contrast from previous earnings calls. Shares of RIVN jumped by 17.96% during Thursday’s session.
NIO stock price
Nio and Chinese tech company Baidu (NASDAQ:BIDU) are teaming up for a strategic partnership that will upgrade the voice operating system that is onboard Nio’s vehicles. The system will utilize Baidu’s AI voice technology and DuerOS which will act as the car’s AI assistant to drivers while on the road.
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- NYSE:NIO gained 3.07% during Thursday’s trading session.
- Nio is scheduled to hold its Q1 earnings report later on Thursday.
- Nio is partnering with Baidu for its on-board voice operating system.
NYSE:NIO snapped out of its recent decline on Thursday, as the immense selling pressure took a slight pause for at least one session. Shares of NIO added 3.07% and closed the trading day at $13.10. Growth stocks had a breather from the ongoing market sell off, although the broader markets still closed in the red for the day. The Dow Jones fell for its sixth straight session after dropping 103 basis points, the S&P 500 fell by 0.13%, and the NASDAQ eked out a small gain of just 0.06% by the closing bell.
Stay up to speed with hot stocks' news!
Nio is scheduled to hold its Q1 earnings call today after the markets close. Investors are optimistic for Nio after rival Li Auto (NASDAQ:LI) reported a blowout quarter on Tuesday. Li Auto reported earnings of $0.07 per share compared to an expected loss of $0.01 per share for the quarter. On Thursday, Rivian (NASDAQ:RIVN) also reported a positive earnings report, signalling that the EV sector might be ready to turn a corner here. Rivian also maintained its production goal of 25,000 EVs for 2022, which is a contrast from previous earnings calls. Shares of RIVN jumped by 17.96% during Thursday’s session.
NIO stock price
Nio and Chinese tech company Baidu (NASDAQ:BIDU) are teaming up for a strategic partnership that will upgrade the voice operating system that is onboard Nio’s vehicles. The system will utilize Baidu’s AI voice technology and DuerOS which will act as the car’s AI assistant to drivers while on the road.
Like this article? Help us with some feedback by answering this survey:
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