Update: NIO stock price reversed the previous days gains to hit fresh three-week lows at $20.26 before recovering slightly to settle at $20.83. Despite the rebound, the shares of the Chinese Electric Vehicle (EV) makers lost 6.09% on the day. NIO stock price failed to benefit from the recent recovery seen in the broader Wall Street indices, as investors assess the latest positions churning by several institutional investors, which have recently bought and sold shares of NIO. Besides, the FOMC June meetings minutes came in hawkish, as it revealed central bankers growing anxiety over inflation and plans to adopt a restrictive policy stance in order to control inflation.
NYSE:NIO started the session well lower as the Chinese EV maker was down by as much as 5% during early morning trading. On Tuesday, shares of Nio managed to rise by 3.84% and closed the trading day at $22.18. It was a remarkable reversal for the stock which rallied alongside the broader markets into the closing bell. The Dow Jones was the lone losing index with a dip of 129 basis points, the S&P 500 inched higher by 0.16%, and the NASDAQ posted a 1.75% gain on the strength of mega-cap tech stocks.
Stay up to speed with hot stocks' news!
What had Nios stock trading lower out of the start? There are reports that cases of the novel coronavirus are once again surging in areas of China. Specifically, the Anhui Province which is where Nios main production facilities are in the city of Hefei. Nio has already had to deal with production shutdowns due to outbreaks in Shanghai, so another closure to its facilities could mean another potential weak quarter for deliveries. Still, investor concerns were short-lived as the stock managed to erase those losses by the closing bell.
Nio hit another milestone earlier this week as the company announced via its WeChat account that it has completed its 10 millionth battery swap. Its a notable milestone, especially on the heels of a short report from Grizzly Research that alleged that Nio is inflating its battery swap subscription figures which has a direct impact on its revenues and net income. Still, perhaps this is Nios way of silencing the short sellers, as the company continues to hit major milestones for its innovative technology.
Previous updates
Update: NIO stock settled at $20.83, down 6.13% on Wednesday, despite US indexes managing to post modest gains for a second consecutive day. The Dow Jones Industrial Average added 70 points, while the S&P 500 summed 0.36%. The Nasdaq Composite gained 39 points or 0.35%. The US Federal Reserve saved the day, as the FOMC Minutes were as hawkish as expected, but policymakers refrained from hinting at a 100 bps hike and from talking about a potential recession. However, the document showed thatofficials agreed high inflation warranted restrictive interest rates, and are open to be even more restrictive if inflation persists. Also, the majority of participants saw a downside risk to growth, while judging there was a significant risk higher inflation could become entrenched.
Update: Nio shares have shed 6.5% to trade at $20.73 one hour into Wednesday's session. This pessimism is odd, seeing as how the Nasdaq is primarily flat and new vehicle sales figures out of China leave little more to be desired. Figures from June 20 through June 26 show a Chinese vehicle market in rampage mode. Overall, the week saw industry-wide sales 33% higher than the same period one year ago. Electric vehices grew at a much higher pace however. Nio reported sales of 12,961 in June, which amounts to a 60% growth rate YoY. The only negative aspect was that Nio remains behind competitors Li Auto (LI) and Xpeng (XPEV), whichsold noticeably more units in June and grew sales at 69% and 133% YoY, respectively.
Like this article? Help us with some feedback by answering this survey:
Follow this link:
NIO Stock News: Nio sheds over 6% despite the rebound - FXStreet
- Las Vegas author Lissa Townsend Rodgers sheds light on historic women in organized crime - Las Vegas Weekly - March 23rd, 2024 [March 23rd, 2024]
- Meta sheds more light on how it is evolving Llama 3 training it relies for now on almost 50000 Nvidia H100 GPU, but ... - TechRadar - March 23rd, 2024 [March 23rd, 2024]
- The Nigerian currency sheds off N500 against the US dollar - Business Insider Africa - March 23rd, 2024 [March 23rd, 2024]
- How the Princess of Wales' story sheds light on the importance of cancer screening - CBC.ca - March 23rd, 2024 [March 23rd, 2024]
- Library approved for storage shed thanks in-part to a $10000 donation from Friends of the Library - mykxlg.com - March 23rd, 2024 [March 23rd, 2024]
- Wake County students build sheds to help with nationwide demand - CBS17.com - March 23rd, 2024 [March 23rd, 2024]
- Quantum tornado sheds light on black holes - Innovation News Network - March 23rd, 2024 [March 23rd, 2024]
- Trent Brown sheds light on his decision to sign with Bengals in free agency - Stripe Hype - March 23rd, 2024 [March 23rd, 2024]
- Revealed: documents shed light on shadowy US far-right fraternal order - The Guardian US - March 23rd, 2024 [March 23rd, 2024]
- Fire destroys home and sheds in Troy | Local News | foxbangor.com - FOX Bangor/ABC 7 News and Stories - March 23rd, 2024 [March 23rd, 2024]
- Insider Sheds Light on Stefon Diggs Future With Bills After Cryptic Post - Heavy.com - March 23rd, 2024 [March 23rd, 2024]
- Sister Wives Star Garrison Brown's Sister Sheds Light on His Mental Health Struggles After Tragic Death - TooFab - March 23rd, 2024 [March 23rd, 2024]
- Synopsys (NASDAQ:SNPS) sheds 3.7% this week, as yearly returns fall more in line with earnings growth - Yahoo Finance - March 23rd, 2024 [March 23rd, 2024]
- Affidavit sheds light on charges against Tell City pastor - Eyewitness News (WEHT/WTVW) - March 23rd, 2024 [March 23rd, 2024]
- Gisele Bndchen Sheds Light on Life After Tom Brady's 2022 Divorce: The Only Time Something Is Fixed Is When You ... - EssentiallySports - March 23rd, 2024 [March 23rd, 2024]
- Toba Supereruption Sheds Light on Early Human Migration - Mirage News - March 23rd, 2024 [March 23rd, 2024]
- Miami Dolphins LB Anthony Walker Sheds New Light on Significant Health Scare - Pro Football Network - March 23rd, 2024 [March 23rd, 2024]
- Tyrese Haliburton sheds harsh truth on sports betting: I'm a prop - Sportskeeda - March 23rd, 2024 [March 23rd, 2024]
- The Daily Show Sheds Viewers with Co-Host Format - imdb - March 23rd, 2024 [March 23rd, 2024]
- French tax officials to hunt out undeclared sheds and verandas - The Connexion - March 23rd, 2024 [March 23rd, 2024]
- D'Angelo Russell sheds light on subtle disparity between sharing locker room with LeBron James & Kobe Bryant - Sportskeeda - March 14th, 2024 [March 14th, 2024]
- Steph Curry sheds light on his most savage trash-talking incident, eerily similar to Larry Bird's - Sportskeeda - March 14th, 2024 [March 14th, 2024]
- NOPD body cam footage sheds light on 'high-risk' arrest, use-of-force investigation - NOLA.com - March 14th, 2024 [March 14th, 2024]
- DEI-vestment: University of Florida sheds 'inclusion' for innovation Minding The Campus - Minding The Campus - March 14th, 2024 [March 14th, 2024]
- Bedford volleyball coach sheds light on investigation, leave of absence - Monroe Evening News - March 14th, 2024 [March 14th, 2024]
- Can World Hunger Be Eradicated by 2030? New Research Sheds Light on Key Puzzle Piece - SciTechDaily - March 14th, 2024 [March 14th, 2024]
- Alex Kurtzman Sheds Light on Star Trek Discovery's Tough Road to Season 5 - Den of Geek - March 14th, 2024 [March 14th, 2024]
- Is the iPhone SE 4 Worth the Wait? A New Report Sheds Light On it - Gizchina.com - March 14th, 2024 [March 14th, 2024]
- PEPE sheds 8% in 24 hours: Are investors losing confidence? - AMBCrypto News - March 14th, 2024 [March 14th, 2024]
- Fire moves from shed to house, damaging home in Cloquet - Northern News Now - March 14th, 2024 [March 14th, 2024]
- "COPA 71" documentary sheds light on forgotten Women's World Cup - Euronews - March 14th, 2024 [March 14th, 2024]
- Photo Series Sheds Light on Homelessness with Pets - Mirage News - March 14th, 2024 [March 14th, 2024]
- 'I thank the firefighters:' Neighbor on cars and shed catching fire in Bedford County - WSET - March 14th, 2024 [March 14th, 2024]
- New Study Sheds Light on Where India's People Came From - The Wire - March 14th, 2024 [March 14th, 2024]
- Who Was Behind Sam Altman's Ouster From OpenAI? New Reports Sheds A Light On Key Executives' Role - Micro - Benzinga - March 14th, 2024 [March 14th, 2024]
- Romanian stock indices start week in red, TTS sheds most - SeeNews - March 14th, 2024 [March 14th, 2024]
- XRPs gradual appreciation mystery: Ripple CTO sheds light on it - AMBCrypto News - March 14th, 2024 [March 14th, 2024]
- Are Edibles Safer Than Smoking? New Study Sheds Light on Cannabis and Heart Problems - Verywell Health - March 14th, 2024 [March 14th, 2024]
- New Protein Structure Sheds Light on Anti-Cancer Immunotherapies - Mirage News - March 14th, 2024 [March 14th, 2024]
- Whale menopause sheds light on human evolutionary mystery - The Borneo Post - March 14th, 2024 [March 14th, 2024]
- Podcast: In the Shed Ep 11 - BikePortland - February 7th, 2024 [February 7th, 2024]
- Sponsor spotlight: Winter-proof your space - The Original Mini Barns' guide to durable sheds and maintenance tips - My Edmonds News - February 7th, 2024 [February 7th, 2024]
- RTX 4080 Super teardown sheds light on power connector controversy PCB shows traces for two 8-pin connectors ... - Tom's Hardware - February 7th, 2024 [February 7th, 2024]
- Israeli-American activist Peled sheds light on decades of terror in Palestine - Middle East Monitor - February 7th, 2024 [February 7th, 2024]
- Research sheds insight on replacement heifers - Beef Magazine - February 7th, 2024 [February 7th, 2024]
- Being a YouTuber Musician is Way More Expensive Than You Think: Guitarist Sheds Light on Costs of Online Career - Ultimate Guitar - February 7th, 2024 [February 7th, 2024]
- CDC Sheds Light on High HIV Risk Among Trans Women - POZ - February 7th, 2024 [February 7th, 2024]
- Metal shed cave in kills one, injures several others - China Daily - February 7th, 2024 [February 7th, 2024]
- Former island resident sheds light on Middle East crisis - Kodiak Daily Mirror - February 7th, 2024 [February 7th, 2024]
- Home Items You Really Shouldn't Be Storing In An Outdoor Shed - House Digest - February 7th, 2024 [February 7th, 2024]
- 'Where is Wendy Williams?' Documentary Trailer Sheds Light on Icon's Personal Struggles - Just Jared - February 7th, 2024 [February 7th, 2024]
- Cha Eun Woo sheds a tear in 'Entity' concept film & photos - allkpop - February 7th, 2024 [February 7th, 2024]
- Fire damages 6 vehicles, 1 shed in Tornillo - KTSM 9 News - February 7th, 2024 [February 7th, 2024]
- National survey sheds new light on outdoor participation - Newton County Times - February 7th, 2024 [February 7th, 2024]
- Research Sheds New Light on Origin of Syphilis, Rescues Columbus' Reputation - Science & Health - Haaretz - February 7th, 2024 [February 7th, 2024]
- Insider Sheds Light On Recent Chicago Bears-Washington Trade Rumors - Sports Mockery - February 7th, 2024 [February 7th, 2024]
- Kelly Clarkson Sheds Light on the Health Diagnosis That Kickstarted Her Weight Loss - Parade Magazine - February 7th, 2024 [February 7th, 2024]
- MAFS star sheds light on extreme wedding day filming: 'Everyone's really wasted' - Yahoo Lifestyle Australia - February 7th, 2024 [February 7th, 2024]
- L.A Coliseum Controversy Silenced as NASCAR Insider Sheds Light on Severity of the Storm - EssentiallySports - February 7th, 2024 [February 7th, 2024]
- Transient accused of starting fire in shed by Sunnyside Museum - Yakima Herald-Republic - February 7th, 2024 [February 7th, 2024]
- Police report sheds light on Redmond man's death from cold exposure after crash, fall on rocks above Dry Canyon - KTVZ - January 22nd, 2024 [January 22nd, 2024]
- DC sheds light on 'House of Brainiacs' Superman crossover in April 2024 AIPT - AIPT - January 22nd, 2024 [January 22nd, 2024]
- Eviction filing sheds light on 5-year-olds deadly fall from KC apartment - WDAF FOX4 Kansas City - January 22nd, 2024 [January 22nd, 2024]
- 'She adored Harry' Robert Hardman sheds light on The Queen's 'special relationship' with grandson - GB News - January 22nd, 2024 [January 22nd, 2024]
- Cam Newton sheds light on Justin Fields' late hits with eye-opening, personal anecdote - NBC Sports Chicago - January 22nd, 2024 [January 22nd, 2024]
- Research sheds new light on moon rock formation solving major puzzle in lunar geology - Phys.org - January 22nd, 2024 [January 22nd, 2024]
- Novel mineral sheds light on rare-earth formation - China Daily - January 22nd, 2024 [January 22nd, 2024]
- Tangoe's Analysis Sheds Light on Taming Cloud Costs in 2024 - Techiexpert.com - TechiExpert.com - January 22nd, 2024 [January 22nd, 2024]
- Controversial F-Factor diet creator sheds uptown condo for $24 million - Crain's New York Business - January 22nd, 2024 [January 22nd, 2024]
- Tesla market valuation sheds $94 billion in first weeks of 2024 - CBT Automotive News - January 22nd, 2024 [January 22nd, 2024]
- Aryna Sabalenka Sheds Light on New Superstitious 'Routine' with Her Physiotherapist -'Anything for the Win' - EssentiallySports - January 22nd, 2024 [January 22nd, 2024]
- 'He Didn't Have the Courage' - Novak Djokovic Sheds Light on Ill-Tempered Interaction With Heckler at Australian Open - EssentiallySports - January 22nd, 2024 [January 22nd, 2024]
- Milwaukee Bucks' Adrian Griffin Sheds Light On Giannis Antetokounmpo's Sudden Injury Absence Vs. Cavs - Wisconsin Sports Heroics - January 22nd, 2024 [January 22nd, 2024]
- At the End of This Once-Barren Yard Is a Shed That's Now a Cozy Hideaway - Domino - January 22nd, 2024 [January 22nd, 2024]
- San Antonio shed fire spreads, causing $100,000 damage: Space heater suspected - FOX 29 - January 22nd, 2024 [January 22nd, 2024]
- Body found following shed fire | Community - The Leader News - January 22nd, 2024 [January 22nd, 2024]
- A Royal Expert Sheds Light on Why Kate Middleton and King Charles' Surgeries Were Announced on the Same Day - Yahoo Lifestyle Australia - January 22nd, 2024 [January 22nd, 2024]
- Tribune-Star Editorial: CANDLES again sheds light on darkness of hate speech - Terre Haute Tribune Star - August 20th, 2022 [August 20th, 2022]
- Digital mortgage firm Blend loses $478M, sheds more of workforce - The Real Deal - August 20th, 2022 [August 20th, 2022]
- Interview Sheds Light On Toyotas Thinking About EVs - CleanTechnica - August 20th, 2022 [August 20th, 2022]