Why Nio Shares Tanked Today
There are many risks associated with buying aggressive growth stocks, and Chinese electric vehicle (EV) maker Nio (NYSE: NIO) certainly qualifies as one. Some specific risks seem to be top of mind for investors today, and as a result, Nio shares were dropping quite a bit. The stock was down more than 7% early in Tuesday's session, and as of 1 p.m. ET, Nio shares still remained down 6.3%.
Names in the EV sector often trade on macro issues, but even on a day when the tech-heavy Nasdaq Composite index is underperforming the broader market, Nio shares are struggling even more. Two concerns specific to Nio may be what have investors jittery right now.
Image source: Nio.
Source Fool.com
