Why Nio Stock Dropped Today
Nio (NYSE: NIO) is working to expand beyond China, but right now investors are trading the company knowing its main market is still China. That's partly why Nio shares are dropping today. As of 11:23 a.m. ET, the stock was down 2.2% after having moved lower by as much as 5.3% earlier this morning.
Last week, Nio outlined its strategy to continue its push into the European market. That plan includes selling three of its smart electric vehicles in Germany, the Netherlands, Denmark, and Sweden, as well as building 120 of its power swap charging stations through next year. It also could include a new mass-market brand that has yet to be named.
Source Fool.com
