Why Nio Stock Is Falling Hard Today

Shares of Nio (NYSE: NIO), a China-based electric vehicle maker, were tumbling this morning after the company reported its fourth-quarter and full-year 2021 results. While the company beat analysts' consensus revenue estimate, management's guidance for vehicle deliveries for the first quarter fell below expectations.

The electric vehicle stock was down by 9.8% as of 10:38 a.m. ET.

Nio reported sales of $1.6 billion in the fourth quarter, an increase of 49% year over year, which just barely surpassed Wall Street's revenue expectation of $1.5 billion in the quarter. Meanwhile, the company's non-GAAP loss per share of $0.16 in the quarter was on par with analysts' consensus estimate.

Source Fool.com