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NIO Stock Pulls Back After Rally as Wall Street Eyes Q3 Earnings
NIO Stock Pulls Back After Rally as Wall Street Eyes Q3 Earnings
BTCCSquare news:
Nio's stock has retreated 10% over the past week, underperforming broader markets amid light trading volume. Despite the dip, shares remain up 50% year-to-date, buoyed by October delivery growth of 92.6% YoY. The EV maker's Onvo and Firefly brands drove the surge, though margin pressures and China's cutthroat competition linger as headwinds.
Goldman Sachs maintained neutrality despite raising its price target to $7, citing improved design in newer models. All eyes now turn to November 25 earnings, where analysts anticipate a $0.23 per share loss on $3.11 billion revenue.
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