Nio's Path to Profitability Hits the Brakes
Shares of Chinese electric vehicle (EV) maker Nio (NYSE: NIO) had been rising steadily since the first full week of October. That's when the company reported it delivered more than 10,600 EVs in September, and its third-quarter deliveries exceeded previously revised guidance.
Third-quarter deliveries more than doubled from the prior year period as the company navigated through the supply chain disruptions that have been affecting automakers worldwide. But after its financial report came out last night, the road to profitability looks a bit longer than some investors hoped.
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Source Fool.com