Why Nio Stock Popped, Dropped, Then Popped Again Today
Widely followed Chinese electric vehicle (EV) maker Nio (NYSE: NIO) released its third-quarter financial report after the bell last night, and investors are having mixed reactions. The company's American depositary shares (ADSs) initially jumped 3.6% Wednesday morning, but then turned into the red, before returning to a gain. As of 11:15 a.m. EST today, its shares were trading up 2.2%.
Nio had previously reported that it delivered 24,439 vehicles in the third quarter, more than doubling what it reported in the year-ago period. That figure also exceeded lowered expectations after the company alerted investors that supply chain constraints were affecting production. But third-quarter results showed the company's net loss and operating losses grew sequentially from the prior quarter.
Source Fool.com
