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Why Nio Stock Is Tumbling Again Today

TheMotleyFool

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Nio (NYSE: NIO) stock opened sharply lower in trading this morning and was down 5.5% as of 11:40 a.m. ET.

Rising competition, disturbing news from China, and rumors that a Nio executive plans to quit are just some of the reasons why investors in the electric vehicle (EV) company are feeling nervous.

Nio primarily sells its EVs in China, but it entered Europe last year and is rumored to be eyeing an expansion into the U.S. market in the near future. Its leaders have often said they aim to give Tesla (NASDAQ: TSLA) a run for its money by selling better vehicles at lower prices.

Source Fool.com

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