Nio (NYSE:NIO) stock fans will want to keep an eye on the company when Aug. 29 rolls around for a potential catalyst.
That’s when the company is going to release its earnings report for the second quarter of the year. It will do so before markets open that day. The electric vehicle (EV) company will follow that up with a conference call covering its earnings results at 8:00 a.m. Eastern.
One thing investors will note is that the company will face extra scrutiny in this earnings report. That’s due to Tesla (NASDAQ:TSLA) increasing the pressure on its EV rivals today. It did so by yet again lowering prices for its vehicles in China. Some analysts believe this will result in a price war between Tesla and Chinese EV companies.
What to Expect From Nio’s Q2 Earnings
Depending on how Nio performs in this upcoming earnings report, traders could see major movement from the stock. If the company beats Wall Street’s estimates, it could result in a stock rally. On the flip side, missed earnings results could cause shares to undergo a dip.
As for today’s NIO stock movement, more than 17 million shares have changed hands as of this writing. That’s still a ways off from the company’s daily average trading volume of about 66 million shares.
NIO stock is down 2.2% as of Wednesday morning but still up 20.3% since the start of the year.
Investors will want to stick around for even more of the latest stock market news worth reading about today!
We’re offering up all of the biggest stock market stories traders need to know about on Wednesday! Among that is why shares of Chevron (NYSE:CVX), Tower Semiconductor (NASDAQ:TSEM) and Nio shares are moving today. All of that info is ready to go at the links below!
More Wednesday Stock Market News
- Chevron (CVX) Stock Pops on Analyst Upgrade
- Tower Semiconductor (TSEM) Stock Tanks as Intel Abandons Deal
- Why Is NIO Stock Down Today?
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
