The stock of Nio Inc (NIO) closed the recent trading session at $20.46, losing 6.02% from the previous trading session. NIO stock kept following the bearish trend, losing 8.36% in the pre-market to $18.75. The company plans to launch their own smarts phone which will be able to interact with their vehicles.
NIO, Inc is an organization that participates in the design, assembling, and dealing of electric vehicles. Besides, the organization produces independent driving electric vehicles coordinated with innovations and artificial intelligence. Currently, the company has a market capitalization of $32.54 billion with 1.59 billion outstanding shares. The firm has its headquarter in Shanghai, China.
News
Few reports from China called attention to the fact that NIO will begin a mobile phone business. The design is in the early phase of research. Besides, the reports stated that the firm’s smartphone division has been exceptionally dynamic and is hiring more representatives. Auto manufacturers are attempting to take advantage of the vehicle software market. Not only also, but the firm also wants to foster mobile phone software first prior to involving it in their future vehicles.
On February 01, 2022, NIO declared the results for January 2022 deliveries. The firm conveyed 9,652 vehicles in January 2022, addressing an expansion of 33.6% YoY. NIO has assembled 836 Power stations, 3,766 Power Chargers, and 3,656 target chargers. Also, The framework fills in as the strong establishment beyond customer expectations.
NIO Financials
As of September 31, 2021, the company’s financials were
- NIO’s total sales were $1.52 billion.
- The company had a gross profit of $309.3 million.
- Furthermore, the net loss for NIO was $129.1 million.
- Moreover, diluted loss of $0.28 per stock.
Russia-Ukraine Conflict
Given the situation of Russia and Ukraine, the stock market is quite volatile. As a result, Nio Inc stock have taken a blow as the ongoing situation in Ukraine escalate. Chinese-based organizations wind up in an abnormal situation subsequent to adjusting themselves nearer to Russian President Vladamir Putin earlier this year.
