NIO Stock Drops Despite Market Gains; Estimates Rise But Automaker Faces Revenue Decline
• NIO stock declined 0.49% despite market gains; the stock is down 33.3% in the past month • NIO is expected to report flat EPS of -$0.51 on revenue of $2.29B, down 1.86% • Analyst estimates for NIO have shifted upward recently, signaling optimism about business trends • NIO has a Zacks Rank of #2 (Buy) based on positive estimate revisions • The Automotive - Foreign industry ranks in the top 26% of Zacks industries, with stocks tending to outperform