NIO Stock Forecast: Nio Inc keeps falling, the $34 mark tested
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UNLOCK OFFER- NYSE: NIO maintains the sour tone on Thursday, despite rallying Wall Street.
- Nio reported a 105% year over year increase in vehicle deliveries.
- XPeng and Li Auto also reported impressive delivery figures for the month.
Update, December 3: NYSE: NIO lost another 5.50% of its value on Thursday, as the downward spiral in the electric vehicles (EV) extended into the third straight day. The stock price tumbled to the lowest levels in three months and tested the $34 mark before reversing sharply to settle at $36.20. Shares of Chinese EV maker fell further on the growing concerns over the Omicron covid variant, although bucked the positive momentum on the Wall Street indices. The rout extended in the stock price despite the company reassuring fans and investors on Wednesday that its annual Nio Day is on track to take place on Dec. 18, as scheduled.
NYSE: NIO looked like it was set for a massive day rising by as much as 4% during early intraday trading. This was before the broader markets were hit with a massive reversal after the CDC reported the first stateside cases of the Omicron variant. Shares of Nio ended up falling by 2.12% and closed the tumultuous trading session at $38.30. It was a day full of wild swings on the market, as all three major US indices fell once again. The Dow Jones dumped a further 461 basis points, while the S&P 500 fell by 1.2% and the NASDAQ tumbled by 1.8% after climbing by 1.8% earlier in the session.
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Nio tried its best to fend off the market volatility, but ultimately the Chinese EV maker and its domestic peers fell into the close. The market whipsaw ruined what was an otherwise bullish day for the Chinese EV sector, as Nio, XPeng (NYSE: XPEV), and Li Auto (NASDAQ: LI) all reported new monthly records for vehicle deliveries. Nio bounced back from a disappointing October delivery report after upgrades to production facilities affected the number of vehicles that were being manufactured.
NIO stock price
XPeng and Li Auto also reported new records for the month of November, and both companies outpaced Nio once again. The two companies delivered 15,613 and 13,485 vehicles respectively, which far outnumbered the 10,878 delivered by Nio. Of course, Nio’s vehicles are considered a more luxury offering, and Li Auto’s Li One SUV is a hybrid model so it is not exactly an apples to apples comparison. Still, the Chinese EV market is booming right now and all three companies stand to benefit as we head into 2022.
Previous updates
Update: NYSE:NIO trades at $35.68 per share heading into the close, down 6.84% at the moment. Wall Street ignored the poor performance of its overseas counterparts and Omicron-related concerns, rallying for the first time in the week. The DJIA is currently up over 600 points, while the NYSE is adding 2.24% or 361 points. Optimism was triggered by upbeat US employment figures ahead of the release of the November Nonfarm Payrolls report.
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- NYSE: NIO maintains the sour tone on Thursday, despite rallying Wall Street.
- Nio reported a 105% year over year increase in vehicle deliveries.
- XPeng and Li Auto also reported impressive delivery figures for the month.
Update, December 3: NYSE: NIO lost another 5.50% of its value on Thursday, as the downward spiral in the electric vehicles (EV) extended into the third straight day. The stock price tumbled to the lowest levels in three months and tested the $34 mark before reversing sharply to settle at $36.20. Shares of Chinese EV maker fell further on the growing concerns over the Omicron covid variant, although bucked the positive momentum on the Wall Street indices. The rout extended in the stock price despite the company reassuring fans and investors on Wednesday that its annual Nio Day is on track to take place on Dec. 18, as scheduled.
NYSE: NIO looked like it was set for a massive day rising by as much as 4% during early intraday trading. This was before the broader markets were hit with a massive reversal after the CDC reported the first stateside cases of the Omicron variant. Shares of Nio ended up falling by 2.12% and closed the tumultuous trading session at $38.30. It was a day full of wild swings on the market, as all three major US indices fell once again. The Dow Jones dumped a further 461 basis points, while the S&P 500 fell by 1.2% and the NASDAQ tumbled by 1.8% after climbing by 1.8% earlier in the session.
Stay up to speed with hot stocks' news!
Nio tried its best to fend off the market volatility, but ultimately the Chinese EV maker and its domestic peers fell into the close. The market whipsaw ruined what was an otherwise bullish day for the Chinese EV sector, as Nio, XPeng (NYSE: XPEV), and Li Auto (NASDAQ: LI) all reported new monthly records for vehicle deliveries. Nio bounced back from a disappointing October delivery report after upgrades to production facilities affected the number of vehicles that were being manufactured.
NIO stock price
XPeng and Li Auto also reported new records for the month of November, and both companies outpaced Nio once again. The two companies delivered 15,613 and 13,485 vehicles respectively, which far outnumbered the 10,878 delivered by Nio. Of course, Nio’s vehicles are considered a more luxury offering, and Li Auto’s Li One SUV is a hybrid model so it is not exactly an apples to apples comparison. Still, the Chinese EV market is booming right now and all three companies stand to benefit as we head into 2022.
Previous updates
Update: NYSE:NIO trades at $35.68 per share heading into the close, down 6.84% at the moment. Wall Street ignored the poor performance of its overseas counterparts and Omicron-related concerns, rallying for the first time in the week. The DJIA is currently up over 600 points, while the NYSE is adding 2.24% or 361 points. Optimism was triggered by upbeat US employment figures ahead of the release of the November Nonfarm Payrolls report.
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