Nio Inc (NIO) Stock Moves Near to 50-Day MA: What Next?

Nio Inc – ADR (NYSE:NIO)  stock has recovered very well after opening lower this morning. The stock is trading higher by 4.60% at $40.78 after falling as much as over 4% earlier in the session.

Nio Inc (NIO) Stock Moves Near to 50-Day MA: What Next?

The company did manage to surpass analysts’ expectations with regards to its sales figures, the bigger concerns remain.

Late Thursday, the company announced that it suffered a loss of RMB4.88 million or $744.1 million in the quarter, which worked out to a loss of 48 cents for each American Depository Receipt.

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Following all adjustments and excluding onetime expenses, the figure stood at 4 cents a share. In the same quarter last year, NIO had suffered a loss of RMB1.72 million. The total sales in the quarter came in at RMB7.98 billion or $1.22 billion and that reflected a year-on-year rise of as much as 481%.

NIO stock is just 1% away from its 50-day moving average of $41.23.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.