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Why NIO Stock Is Down Today

TheMotleyFool

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Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were trading lower on Wednesday, amid broad market turbulence affecting shares of many electric vehicle makers and other emerging technology companies.

As of 10:30 a.m. EDT, NIO's American depositary shares were down about 4.8% from Tuesday's closing price.

There was no major news driving NIO's shares lower -- or major news of any kind that was directly related to NIO or its stock. The company did share some minor news, but it seems positive: As of 3:16 a.m. local time, a NIO battery-swap station in Suzhou (just west of Shanghai) completed the company's 2 millionth battery swap.

Source Fool.com

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