Why Nio Stock Crashed Today
(NYSE: NIO) held a launch event today for the latest SUV addition to its EV lineup, but that wasn't what pushed the stock down by as much as 12% in early trading. As of 11:07 a.m. ET, Nio's American depositary shares were still lower by 11%.
Rather, it was what Chinese peer XPeng said when it reported its first-quarter earnings today. XPeng warned investors that it sees relatively flat sequential sales for the remainder of the second quarter. That implies the company is losing market share, and Nio could be in a similar position.
Source Fool.com
NIO Inc. Stock
€3.79
2.380%
Our community is currently high on NIO Inc. with 3 Buy predictions and 0 Sell predictions.
With a target price of 5 € there is a positive potential of 32.0% for NIO Inc. compared to the current price of 3.79 €.
