NIO Inc. (NIO), a company involved in the electric vehicles business, has nominally slid by 9.21% in the current market today. Hence, the stock was trading at $14.59 when last checked. During Friday’s regular market, the stock plummeted by 9.57% to close the day at $16.07. The decline came following the announcement in recent days regarding stock’s listing on Hong Kong Stock Exchange.
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Listing in Hong Kong Stock Exchange
On 9th March, NIO announced the successful listing of Class A ordinary shares on the Main Board of Hong Kong Stock Exchange. The shares are traded on the Main Board of Stock Exchange, with a stock code of 9866. The short name for the stock is NIO-SW. The ADSs of the company would primarily remain listed on NYSE. The shares listed on Hong Kong Stock Exchange are fully fungible with ADSs listed on NYSE.
When NIO Would Report Q4 & FY 2021 Results?
On the 1st of March, NIO announced that it would report the Q4 and FY 2021 results on the 24th of March 2022, i.e. Thursday. Alongside that, the management of the company would host an earnings call on the same day. The company would shed a light on its performance as well as on the EV sector during the fiscal year 2021.
February Delivery Results
On the same day, i.e. 1st of March, NIO announced the delivery results for the month of February 2022. The company delivered some 6,131 vehicles during the period, which represents an increase of 9.9% on a year-over-year basis. Among them were 1,084 ES8s, 3,309 ES6s, and 1,738 EC6s. The company had adjusted its production lines during the production suspension of the NIO-JAC manufacturing plant to make it ready for delivering ET7.
What’s in Store for NIO?
Looking towards what’s coming ahead, analysts are of the view that NIO stock holds several bleak signals at the moment. Hence, it is expected to decline in the next couple of weeks. This has caused investors to hold a negative evaluation of the stock.
