Why NIO Stock Is Slipping Today
Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were trading lower on Wednesday, as investors took profits after a huge run-up in the stock's price over the last month.
As of 2 p.m. EDT, NIO's shares were down about 5.2% from Tuesday's closing price -- but still up over 70% since the beginning of July.
There was no big news (or even not-so-big news) driving NIO's shares lower on Wednesday. My sense is that this is just a pullback after a big run -- no surprise given the gains that NIO investors have seen over the last few weeks.
Source Fool.com
