Nio Inc (NIO)

[sure bet]

Nio Inc. (NIO) reported Thursday a narrower-than-expected loss and revenue that fell less than forecast, but the China-based electric vehicle maker's stock pulled back 2.2% in premarket trading after soaring 27.5% over the previous two sessions. The net loss narrowed to RMB1.72 billion ($243.3 million), or RMB1.66 a share, from RMB2.65 billion, or RMB2.56 a share, in the year-ago period. Excluding non-recurring items, the adjusted loss per share was RMB1.60, beating the FactSet loss consensus of RMB1.73. Total revenue fell 15.9% to RMB1.37 billion ($193.8 million), but was above the FactSet consensus of RMB1.29 billion. Vehicle sales declined 18.2% to RMB1,26 billion ($177.3 million), while vehicle margin was negative 7.2%. Compared with the sequential fourth quarter, vehicle total revenue dropped 51.8% and vehicle sales declined 53.2% as a result of the COVID-19 outbreak in China. Vehicles delivered fell to 3,838 from 3,989. For the second quarter, Nio expects to deliver between 9,500 and 10,000 vehicles. Revenue is expected to be between RMB3.37 billion ($475.7 million) and RMB3.53 billion, compared with the FactSet consensus of RMB2.71 billion. The stock has gained 1.0% over the past three months, while U.S. rival Tesla Inc.(TSLA) shares (TSLA) have run up 22.8% and the S&P 500 has tacked on 2.8%