Posted 2/21/2024, 10:45:20 PM
NIO Stock Rises Despite Market Declines; Earnings and Revenue Largely Stable
- NIO Inc. (NIO) stock closed slightly higher despite broader market declines
- NIO is expected to report steady earnings of -$0.51 per share for the upcoming quarter
- Revenue is projected to decline 1.86% to $2.29 billion year-over-year
- Positive estimate revisions are a good sign for NIO's business outlook and correlated with stock price increases
- NIO currently has a Zacks Rank of #2 (Buy) in the Automotive - Foreign industry, which ranks in the top 39% of Zacks industries