3 Shocking Reasons Nio Stock Crashed Today
Electric vehicle (EV) stock Nio (NYSE: NIO) tumbled on Friday, and it wasn't just the overall bloodbath in the stock markets that sent the stock tumbling. A couple of big news reports out of China, Nio's domestic market, are spooking investors in the hot EV stock even more. All told, its shares were trading down around 4.5% as of 11:30 a.m. ET today.
Fears about a new coronavirus variant with several mutations found in South Africa has rattled economies across the globe, with the U.S. stock markets getting hit especially hard as the development comes bang in the middle of peak holiday travel season.
The U.S. reopened its borders to international travelers from all countries on Nov. 8, and reports on travel data already suggest that this Thanksgiving is set to be the busiest since the pandemic, based on the number of airline passengers screened.
Source Fool.com
