Why Nio Stock Is Down Again Today
Shares of Chinese electric-vehicle (EV) maker Nio (NYSE: NIO) were trading lower again on Tuesday morning, as investors continued to sell down volatile growth stocks while awaiting results of the Federal Reserve Bank Open Market Committee (FOMC) meeting.
As of 10:45 a.m. ET today, Nio's American depositary shares were down about 4.1% from Monday's closing price.
Nio's recent share-price decline doesn't seem to be about the business itself. While the company gave up some market share to domestic rivals in 2021, it seems well poised to recover (and then some) with three new models and some new technologies due to launch in 2022. Nio confirmed last week that the first of those three new models, the upscale ET7 sedan, is on track to launch in March.
Source Fool.com
