Nio Inc – ADR (NYSE:NIO) shares are trading lower by 1.4% at $44.52 Wednesday afternoon.
Weakness appears related to overall market weakness as well as investors watching for possible policy shifts this afternoon and the central bank’s plan, or not, to handle inflation. Investors are also watching for news on interest rates, as a rise in rates could weigh on growth and technology stocks.
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.
The stock has a 52-week high of $66.99 and a 52-week low of $6.50.
