Why NIO And XPeng Stock Are Falling Today

Shares of Nio Inc - ADR NIO and XPeng Inc - ADR XPEV are trading lower in sympathy with Li Auto, which fell after the company reported worse-than-expected third-quarter financial results.

What Happened?

Li Auto Inc reported quarterly losses of 18 cents per share which missed the analyst consensus estimate of a loss of 15 cents. The company also reported quarterly sales of $1.31 billion which missed the analyst consensus estimate of $1.40 billion by 6%. This is a 9% increase over sales of $1.21 billion in the same period last year.

Deliveries of Li ONEs jumped 5.6% year-over-year to 26,524 vehicles. Deliveries meanwhile fell 7.5% quarter-over-quarter...Read More

According to data from Benzinga Pro:

• NIO is trading lower by 2.68% to $13.05
• XPEV is lower by 5.12% to $11.22