Why Nio Stock Is Crashing This Week
(NYSE: NIO) investors haven't had a very good week. The Chinese electric vehicle (EV) maker's American depositary shares have plunged more than 15% since the U.S. election, including a 13.4% drop this week as of midday Friday, according to data provided by S&P Global Market Intelligence.
The U.S. election results help explain the recent bearish move in Nio's stock. Chinese EV makers haven't made any inroads in the United States at this point, but President-Elect Donald Trump's policies push that possibility even further away. And it's unknown what potential disruptions will result from tariff policies with an incoming American president who has not traditionally been a supporter of EVs in general.
Nio has gradually increased exports from China and into Europe in recent years. In its latest global expansion move, the company just announced a partnership to launch its business in Azerbaijan. With tariff barriers in place, the company has already been thwarted from moving into the U.S., which seems even less likely with Trump in the White House.
Source Fool.com
NIO Inc. Stock
With 2 Sell predictions and 0 Buy predictions the community sentiment towards the NIO Inc. stock is not clear.
This results in a negative potential of -25.85% based on a current price of 4.05 € and a target price of 3 € for the stock.
