Why Did Nio Stock Rise Again Today?
Key Points
Nio reported about 35,500 vehicle deliveries in March, helping it beat first-quarter guidance.
Nio's performance was much more impressive than its Chinese competitors.
Investors see steadily growing deliveries resulting in sustained profitability.
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Nio (NYSE: NIO) shares popped again this morning, a day after they surged nearly 10% higher in anticipation of its March delivery numbers. Those numbers impressed investors, and the stock jumped as much as 5.5% this morning.
At 10:56 a.m. ET, shares had pared some of those gains but were still up by 1.4%.
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Image source: The Motley Fool.
Sustained profitability
Yesterday's anticipatory rally in Nio stock came with the company reporting its first-ever quarterly profit earlier in March. Record Q4 deliveries drove that profit, and investors were looking to see whether Nio could continue the surge in EV sales.
Its March report of 35,486 units shipped represented 136% year-over-year growth. First-quarter shipments nearly doubled versus last year. That sharp growth has investors thinking profitability could be sustained. While there are seasonal variations, Nio's EV deliveries have been steadily increasing over the past several years. Below is a chart of monthly deliveries since 2021.
Data source: Nio. Chart by author.
Today's stock move higher also reflects how Nio is doing compared to its Chinese competitors. XPeng reported that March deliveries declined 17% versus last year, while Li Auto saw an increase of just 12% year over year.
Nio stock has been rallying this year, and that trend could continue if increasing deliveries lead to another profitable quarterly report.
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Howard Smith has positions in Nio. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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