Investors didn't like what they heard when Nio (NYSE: NIO) provided its fourth-quarter and full-year 2021 financial and operational update late last week. The stock dropped after the report on Friday, but some investors took that as an opportunity to buy on Monday morning. Nio shares popped 6.6% in early trading. As of 11:32 a.m. ET, the stock had settled to a gain of 3.8%.
The drop after earnings came mainly from the company's delivery outlook this month. Nio reports its deliveries monthly, so when it provided its first-quarter outlook, investors were really learning how March was going. But even with some new COVID-19 lockdowns hitting Chinese cities, investors are thinking that the post-earnings drop may be a buying opportunity today.
Image source: Nio.
Source Fool.com