NIO Stock Forecast: Nio Inc tanks as Omicron induces more volatility for the markets
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UPGRADE- NYSE: NIO fell by 3.21% during Tuesday’s trading session.
- Nio’s revenue and deliveries continue to rise while its stock price falls.
- Tesla CEO Elon Musk tweets a grim forecast for the EV sector.
NYSE: NIO failed to hold the $40 price level once again as the Chinese EV maker lost its 200-day moving average price. Shares of Nio fell by 3.21% on Tuesday, and closed the trading session at $39.16. It was a sharp reversal for the broader markets as the Omicron variant once again reared its ugly head and hit the European markets hard. The S&P 500 tumbled by 1.90%, the NASDAQ fell by 1.55%, and the Dow Jones plummeted by a staggering 652 basis points after recovering slightly on Monday.
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After domestic rivals Li Auto (NASDAQ: LI) and XPeng (NYSE: XPEV) reported blowout quarters, Nio investors might be wondering why the stock has pulled back after a red-hot 2020. After all, Nio continues to increase its monthly deliveries aside from October, where the company revealed it is upgrading its production facilities. Nio also reported higher monthly revenues and decreased losses, as well as expanding into Europe and introducing new models next year. Still, shares of Nio are down almost 27% year to date, compared to Li Auto and XPeng which are both positive. All of this is to say that the company is plugging along, and Nio’s stock could be in for a massive year in 2022 if all of the catalysts can align.
NIO stock price
On Tuesday, Tesla (NASDAQ: TSLA) CEO Elon Musk tweeted a not so promising outlook for the company’s long awaited Cybertruck. When asked about an update on Twitter (NYSE: TWTR), Musk stated that global supply chains have continued to cause problems for Tesla, and that he would provide an official update at the next earnings call. This is definitely not a bullish outlook for the Cybertruck which has been delayed by two years already, and companies like Nio who have already been affected by the chip shortage could see further pain into 2022.
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- NYSE: NIO fell by 3.21% during Tuesday’s trading session.
- Nio’s revenue and deliveries continue to rise while its stock price falls.
- Tesla CEO Elon Musk tweets a grim forecast for the EV sector.
NYSE: NIO failed to hold the $40 price level once again as the Chinese EV maker lost its 200-day moving average price. Shares of Nio fell by 3.21% on Tuesday, and closed the trading session at $39.16. It was a sharp reversal for the broader markets as the Omicron variant once again reared its ugly head and hit the European markets hard. The S&P 500 tumbled by 1.90%, the NASDAQ fell by 1.55%, and the Dow Jones plummeted by a staggering 652 basis points after recovering slightly on Monday.
Stay up to speed with hot stocks' news!
After domestic rivals Li Auto (NASDAQ: LI) and XPeng (NYSE: XPEV) reported blowout quarters, Nio investors might be wondering why the stock has pulled back after a red-hot 2020. After all, Nio continues to increase its monthly deliveries aside from October, where the company revealed it is upgrading its production facilities. Nio also reported higher monthly revenues and decreased losses, as well as expanding into Europe and introducing new models next year. Still, shares of Nio are down almost 27% year to date, compared to Li Auto and XPeng which are both positive. All of this is to say that the company is plugging along, and Nio’s stock could be in for a massive year in 2022 if all of the catalysts can align.
NIO stock price
On Tuesday, Tesla (NASDAQ: TSLA) CEO Elon Musk tweeted a not so promising outlook for the company’s long awaited Cybertruck. When asked about an update on Twitter (NYSE: TWTR), Musk stated that global supply chains have continued to cause problems for Tesla, and that he would provide an official update at the next earnings call. This is definitely not a bullish outlook for the Cybertruck which has been delayed by two years already, and companies like Nio who have already been affected by the chip shortage could see further pain into 2022.
Like this article? Help us with some feedback by answering this survey:
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