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Why Nio Shares Are Falling

Published 14/04/2022, 17:36
© Reuters.  Why Nio Shares Are Falling
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Shares of Chinese companies, including Nio Inc - ADR (NYSE: NIO), are trading lower as investors assess the economic impact of a surge in COVID cases in China.

According to an SCMP report, Hong Kong will start easing social-distancing rules that have been in place for months from April 21, including an extension of dine-in hours for restaurants. It added that people would be permitted to take off their masks when visiting parks and exercising outdoors.

See Also: Why Wells Fargo (NYSE:WFC) Shares Are Sliding

Nio operates in China's premium electric vehicle market. The company designs and jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving and artificial intelligence.

According to data from Benzinga Pro, Nio is trading lower by 4.21% at $19.55. Nio has a 52-week high of $55.13 and a 52-week low of $13.01.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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