NIO Stock Forecast: Nio Inc falls as rival XPeng reports mixed results for the quarter

NYSE:NIO fell by 2.68% during Monday’s trading session.
XPeng reported mixed earnings and weaker guidance due to COVID restrictions.
Nio will be added to the Hang Seng tech index as a constituent stock.

Stocks Reporter FXStreet

NYSE:NIO started the week off on the back foot as a major domestic rival reported mixed earnings for the first quarter of the year. On Monday, shares of Nio dipped by 2.68% and closed the trading session at $16.00. US markets rebounded to start the week as stocks attempted to recover from the seventh consecutive losing week for the broader markets. The Dow Jones jumped higher by 618 basis points, the S&P 500 added 1.86%, and the NASDAQ rose by 1.59% during the session.

Stay up to speed with hot stocks' news!

One of Nio’s largest domestic rivals, XPeng (NYSE:XPEV) reported its first quarter earnings before the opening bell on Monday. The EV maker reported a loss of $0.28 per share and revenues rose by 144% on a year over year basis. Investors were disappointed that sequential sales numbers fell from last quarter when the company saw 303% sales growth from the previous quarter. XPeng’s rest of year guidance came in lower than expected as the company takes into account lower production numbers due to ongoing COVID-19 restrictions in China. Nio finally announced that it will be reporting its first quarter earnings on June 9th.

NIO stock price

Nio also reported that it would be added to the Hang Seng Tech index in Hong Kong as a constituent stock. The company joins other major Chinese companies like Tencent as well as other Chinese EV makers like XPeng and Warren Buffett-backed BYD. Nio just recently began to trade on the Singapore Exchange, making it the first EV maker to trade on three different markets.

Like this article? Help us with some feedback by answering this survey:

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Stocks Reporter

FXStreet

EUR/USD struggles below 1.1800 ahead of US data, Fedspeak

EUR/USD remains trapped in a tight range below 1.1800 in the European session on Tuesday. The pair struggles amid a modest US Dollar strength and an improvement in risk sentiment, even as US tariff uncertainty lingers. The focus now remains on the US data and Fedspeak.

GBP/USD stays defensive below 1.3500 as USD firms up

GBP/USD stays on the back foot below 1.3500 in the European trading hours on Tuesday. The pair declines as the US Dollar rebounds from losses recorded over the previous two sessions. Traders will focus on the US weekly ADP Employment Change and Consumer Confidence data due later in the day, along with speeches from Federal Reserve officials.

Gold holds pullback below $5,200 amid USD uptick

Gold holds moderate losses below $5,200 in European trading on Tuesday, though it lacks follow-through selling. Following the previous day's knee-jerk fall in reaction to US President Donald Trump's new global tariffs and the subsequent bounce, the US Dollar attracts fresh buyers ahead of mid-tier data and Fedspeak.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.

AI-scare trade and tariff uncertainty takes hold

It was quite a day, with AI-disruption fears and tariff uncertainty triggering a risk-off session. By now, it's nearly impossible to have missed the Supreme Court's 6-3 decision that struck down US President Donald Trump's reciprocal tariffs last Friday.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.