Why Nio Stock Slumped 10% Today
(NYSE: NIO) stock, which was holding up well until yesterday since its jaw-dropping rally in September, reversed course this morning and plunged 10% within minutes of the market's opening. Shares of the Chinese electric vehicle (EV) maker were trading a little over 7% lower as of 11:30 p.m. ET Tuesday.
There's nothing wrong with Nio. Chinese stocks were crashing all across the board today, and Nio was no exception. It is, after all, one of the leading EV manufacturers in the nation.
As an investor in Nio, though, you needn't fear today's drop in its stock price and may, in fact, consider any drop in Nio an opportunity to buy.
Source Fool.com
