Why Nio Shares Dropped Again Today
Shares of Chinese electric vehicle (EV) maker Nio (NYSE: NIO) have been getting hammered this week, with the stock down more than 11.5% in the last five days. The downtrend continued today, as Nio shares sank as much as another 3.4% before rebounding slightly. As of 3:10 p.m. ET, Nio stock was down 2.4%.
Nio investors have been troubled recently by fears related to Chinese government regulators as well as growing global competition, and even company-specific items. The company's vehicle delivery results were hampered in October due to production delays related to a retooling of its manufacturing lines for new models, as well as ongoing industry supply chain issues. While that negative factor was largely reversed in November with record deliveries, other concerns have remained.
Nio ES8 SUVs being delivered in Norway. Image source: Nio.
Source Fool.com