Why Nio Stock Sank Over 14% This Week
Just when it looked like Nio (NYSE: NIO) shares were on an upswing from multiyear lows, the stock of the Chinese electric-vehicle (EV) manufacturer took another plunge this week. Nio's American depositary shares sank by 14.3% in the shortened trading week, according to data provided by S&P Global Market Intelligence. Nio faced some of its own headwinds, though, which helps explain its outsize move lower.