Why Nio Stock Is Lower Today
Shares of Chinese electric vehicle maker Nio (NYSE: NIO) were trading lower on Friday. A Wall Street analyst trimmed his bank's price target for Nio's American depositary shares after the company provided conservative guidance with its earnings report on Wednesday.
As of noon EDT, the shares were down about 3.2% from Thursday's closing price.
Nio reported its second-quarter results after the U.S. markets closed on Wednesday, and while they were somewhat better than Wall Street had expected, the conservative guidance might have raised some eyebrows.
Source Fool.com
