Why Nio, Nikola, and Kandi Technologies Stocks Dropped Today
Investors continue to head into the end of the year shedding high-growth tech stocks. Electric-vehicle (EV) names have been caught up in that trend.
Today, shares of EV-makers Nio (NYSE: NIO), Nikola (NASDAQ: NKLA), and Kandi Technologies (NASDAQ: KNDI) are all down in a big way -- even after each one has recently reported positive news related to the underlying businesses. As of 2:53 p.m. ET, Nio and Nikola stocks were down 4% and 6.5%, respectively. Kandi shares were down 10.1%.
Today's drops are despite some recent announcements from the companies themselves. Nio has been working on growing its product offerings, geographic reach, and production capacity. The company updated those efforts for investors at its Nio Day event earlier this month.
Source Fool.com
