Posted 2/8/2024, 10:45:18 PM
NIO Stock Drops Despite Market Gains Ahead of Q1 Earnings Showing Slowed Growth
- NIO stock fell 0.68% despite market gains as Q1 earnings approach showing projected revenue decline
- Stock has fallen 20.92% over past month, underperforming sector and market
- Analyst estimates for Q1 earnings show no EPS growth year-over-year and 1.86% revenue decline
- Upward estimate revisions linked to positive stock performance; NIO estimates up 8.41% in past month
- NIO has Zacks Rank #2 (Buy) in top 31% of auto industry stocks based on estimate changes