American depositary shares of Chinese electric-vehicle (EV) maker (NYSE: NIO) plunged Thursday after the company announced its July monthly delivery results. Those results weren't bad, but investors wanted more.
Nio delivered about 20,500 EVs last month, marking the third straight month the company has surpassed the 20,000 unit delivery threshold. But it was still only about 2% higher than the year-ago period. Nio closed today's trading session with a drop of 8.3%.
The July delivery results also represented a slight drop from the 21,209 vehicles shipped in June. Investors are getting impatient waiting for Nio to achieve profitability. They expected to see a continued ramp-up of vehicle sales, but as can be seen in the chart below, results have leveled off over the past several months.
Source Fool.com