Why Nio Stock Dropped This Week
EV deliveries remained strong in August, but investors are focusing elsewhere.
Overview
Investors have been closely watching Chinese electric vehicle (EV) maker Nio (NYSE: NIO) for signs of progress toward profitability. Record-breaking EV deliveries late last year had it on the right path.
But its latest quarterly report showed it took a small step back in Q2. That led to a stock sell-off this week, with shares down about 14% as of late Friday morning, according to data provided by S&P Global Market Intelligence.
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.