Why Nio Stock Is Lower Today
Shares of Chinese electric vehicle maker Nio (NYSE: NIO) were trading modestly lower at midday on Tuesday, amid a broader sell-off of electric vehicle (EV) stocks and as it deals with the aftermath of two fatal crashes in China.
As of noon EDT today, Nio's American depositary shares were down about 2.3% from Monday's closing price.
Shares were holding up fairly well amid a broader sell-off of EV names. Two relative newcomers in the space, Romeo Power (NYSE: RMO) and Lightning eMotors (NYSE: ZEV), reported earnings results on Monday afternoon that missed Wall Street estimates. Category leader Tesla (NASDAQ: TSLA) was also trading lower for a second day on concerns about the U.S. government investigation into collisions implicating its Autopilot system.
Source Fool.com
