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NIO stock plunged in the pre-market. Here’s the reason

On 24 March 2022, NIO Inc (NIO) released the financial performance for the last quarter and fiscal year 2021 along with the fiscal year 2022 stance. NIO Inc (NIO) performed well in the regular trading session and stayed bullish. NIO stock closed the regularly traded session at $21.98 and gained 0.5% from the previously traded session. On the last check, the stock of NIO plunged in the pre-market and lost 5.28% of its value to $20.82 per share. During the recent trading session, NIO stock oscillated between $20.92 and $22.04.


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NIO Inc operates in the industry of automobiles and takes part in the design, assembling, and dealing of electric vehicles. Other than that, the firm develops independently driven EVs coordinated with technology and artificial intelligence. As of now, NIO has a market cap of $34.96 billion. NIO has its headquarters in Shanghai, China.

NIO Key Financials

NIO published the financial performance for the last quarter and fiscal year 2021, which concluded on 31 December 2021.

  • The firm reported revenue of RMB 9.9 billion in Q4 of the fiscal year 2021 against RMB 6.6 billion in the same period of the previous year. Moreover, the sales in FY21 were reported to be RMB 36.1 billion as compared to RMB 16.2 billion in the fiscal year 2020.
  • Also, the firm had a total loss of RMB 2.1 billion in the last quarter of FY21 versus RMB 1.3 billion in the last quarter of FY20. NIO reported the total loss in FY21 to be RMB 4.01 billion against RMB 5.3 billion in FY20.
  • NIO had a loss of RMB 1.36 per stock in Q4 of FY21 as compared to RMB 1.05 per stock in FY21. Also, the firm had a loss of RMB 6.72 per stock in FY 21 against the loss of RMB 4.74 per stock in FY20.

News

On 9 March 2022, NIO pronounced the productive listing of its Class A regular shares on the Hong Kong stock exchange. The CEO of NIO Inc, Willian Bin Li, commented that while the auto business is going through quick change, they will keep on making advancements, bring better items and encounters to their clients, and make the long-haul incentive for their shareholders.

What do the analysts say?

The analyst at China renaissance initiated the coverage on the stock with a buy rating and set the target price to $32.40, on 24 March 2022. Moreover, the analyst at Citigroup also initiated the stock coverage with a buy rating.

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