Nio Misses Q1 Deliveries, But Expert Says EV Maker 'Seems To Be On The Upswing'
Portfolio Pulse from Surbhi Jain
Nio Inc. (NYSE:NIO) missed Q1 2024 earnings expectations, leading to a 6.5% stock decline. Despite a 39.9% drop in vehicle deliveries and a 42.1% revenue decline from the previous quarter, expert Anthony Sassine from KraneShares remains optimistic about Nio's future due to model upgrades, new launches, and improved margins. Nio's Q2 guidance suggests a potential recovery.
June 06, 2024 | 6:37 pm
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Nio Inc. missed Q1 2024 earnings expectations, leading to a 6.5% stock decline. Despite a significant drop in vehicle deliveries and revenue, expert insights suggest potential recovery due to model upgrades, new launches, and improved margins.
The Q1 earnings miss and significant decline in vehicle deliveries and revenue have negatively impacted Nio's stock. However, expert insights on model upgrades, new launches, and improved margins provide a potential path to recovery, making the short-term outlook mixed but leaning negative.
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IMPORTANCE 90
RELEVANCE 100