Why Nio Stock Is Trading Lower Today

Shares of Chinese electric-vehicle (EV) maker Nio (NYSE: NIO) were trading lower on Thursday, on rising COVID-19 concerns a day after it announced its best monthly sales result to date.

As of 11 a.m. ET today, Nio's American depositary shares were down about 2.4% from Wednesday's closing price.

As is true elsewhere in the world, the emergence of the new omicron variant has rekindled concerns about potential business disruptions in China. Those concerns were hitting the EV segment on Thursday; Nio's was just one of many EV-related stocks trading lower in the session. 

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Source Fool.com