NIO Limited (NIO)Shares in NIO limited (symbol ‘NIO’) have been trading in a declining channel throughout the first quarter of 2023. The company is expected to report its earnings for the fiscal quarter ending March 2023 on Friday 9th of June before market open. The consensus EPS is $-0,22 compared to the result for the same quarter last year of $-0,18.
‘The expectations of the negative EPS only makes sense since the company is yet to be profitable. Investors will want to watch for updates on the company’s global expansion. Nio has a relatively large portion of the Chinese market but is facing increasing domestic competition, although in mid May Ford announced that they will be scaling down their EV operations in China which is considered welcome news for NIO. This has the company planning to expand further into Europe while any positive news about this expansion could also be beneficial to NIO stock.‘ said Antreas Themistokleous, an analyst at Exness
