NYSE: NIO stock lost 4.34% of its trading price on the August 9 trading session; it opened trading at $13.95. The low for the session was $13.21, the high was $14.12. At press time, the prcice was trading at $13.46 with an intraday trading volume of 57.707 Million.
In the weekly time frame, NIO stock lost 2.46% of its trading price, but in the monthly and quarterly time frame, NIO, Inc. stock surged approximately 35.01% & 65.25%. At press time, the company’s stock is trading 9.32% higher than its annual price target of $12.21.
Nio, Inc. stock’s highest trading price in 52 weeks was $22.74, and its lowest traded price was $7. NIO, Inc.’s market capitalization is $21.883 Billion, and its stock average trading volume is 85.246 Million.
NYSE: Nio Stock Price Analysis
In the last trading session, sellers were more active than buyers, and constant selling volume helped sellers pull prices below the initial support zone.
If buyers show their dominance in the coming session, NIO shareprice might face immediate resistance of $15.86 and the next possible resistance of $17. After analyzing the technical aspects of NIO share, it is noted that the recent decline is temporary, and the stock price will not sustain for a longer time on lower levels.
If sellers succeed in bypassing buyers, then NIO share price could face immediate support of $11 and might further face support of $7.
NIO, Inc Earnings & Revenue
In Q1 2023, Nio, Inc. disappointed investors as it reported 9.51% less revenue than estimated figures. The company was supposed to report $1.72 Billion, but it reported 1.55 Billion.
For Q2 & Q3 2023, the company is supposed to report $1.27 Billion and $2.50 Billion in revenue. Despite negative earnings, Nio, Inc.’s earnings per share surged over 10.20% in Q1 2023.
From the generated revenue of Q1 2023, the company’s net income was -$702.08 Million with a profit margin of -44.99%. According to TradingView, 1.522 Billion Nio shares are free-floating, and the remaining 25.874k shares are closely held by the company’s financial backers or the board of directors.
Technical Level
Maor Support: $10 & $7
Major Resistance: $15.86 & $17
Conclusion
Nio, Inc (NYSE: NIO) share slipped significantly in the August 9 trading session, indicating that sellers are more interested than buyers. Despite the decline, Nio shareholders might not be worried as analysts believe that prices might regain their lost position by the end of this week.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/08/10/nio-stock-slipped-over-4-intraday-might-surge-post-q2-earnings/