NIO rose more than 5%, after falling nearly 4% before
NIO Earnings Looked a Lot Like Ford’s. What to Know.Chinese electric vehicle maker NIO posted better than expected first quarter results. But the global automotive microchip shortage will hit production in the coming months.NIO is a highly valued, high-growth stock. Now NIO bulls have to decide whether solid earnings will trump the growth hiccup or whether the chip shortage can hurt the company in the long run.NIO lost 23 cents a share on an adjusted, non-GAAP basis, from $1.2 billion in sales.
Although they're currently too expensive, these EV names have immense long-term potential. Electric vehicle sales have seen a massive upward trajectory over the past year. Originally, the consensus was that automotive companies and electric vehicle stocks would struggle in unison during the pandemic, but that hasn’t been the case.In fact, according to the International Energy Agency, there was a slight increase in EV sales while global car sales contracted by roughly 14%. Policy support and con