Two stocks to watch: Week 9, 2024


Exness Representative
This week, we look to China and the automobile manufacturer Nio Inc. as well as Chinese e-commerce giant

NIO Limited​

NIO Limited's (NIO) share price managed to cover the downward move through the quarter and closed at almost 0% change. The company’s earnings report for the fiscal quarter ending December 2023 is expected to be released on Tuesday 5 March before the market opens. The consensus EPS is $-0.51 against $-0.51 (USD) in the same quarter last year.The company is yet to become profitable since its incorporation and this is a major fact that deters investors from trusting the company’s growth. As of 30 September 2023, the company had increased negative net income mostly due to higher costs of goods sold. Negative net income grew by almost 10% while the cost of goods sold increased by more than 50% year over year. Also, JPMorgan downgraded NIO stock to "underweight" with a lowered price target of $5 per share, reflecting a bearish stance on the company's future performance.

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