Nio Hits the Brakes, but This Tech Stock Just Hit an All-Time Low
The stock market has kept investors on their toes all year, and Wednesday didn't look like it'd be any different. Signs of a potential early rally gave way to pessimism as the opening bell for the regular trading session approached. Market participants still seem concerned about economic pressures, especially with the Federal Reserve poised to make a key decision on interest rates at its next monetary policy meeting next week. As of shortly before 9 a.m. ET on Thursday morning, futures contracts on the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) were all slightly negative, albeit having fallen less than a quarter-percent.
A couple of key stocks weighed on investor sentiment on Wednesday morning. The stock with the higher profile was Nio (NYSE: NIO), which reported its latest financial results and failed to deliver the unqualified positive performance that electric vehicle (EV) stock investors wanted to see. However, even larger declines came from the tech space, where UiPath (NYSE: PATH) wasn't able to satisfy its shareholders with its most recent quarterly report. Read on to learn more about both companies.
Shares of Nio were down almost 5% in premarket trading early Wednesday, adding to losses from Tuesday's regular session. The Chinese EV manufacturer's results for the second quarter of 2022 failed to inspire the confidence that investors have grown used to in past years.
Source Fool.com
