Nio Inc - ADR (NYSE:NIO) shares are trading lower by 10.69% to $16.20. Shares of companies across sectors are trading lower amid overall market weakness following worse-than-expected May U.S. CPI data.
The downward price action may also be due to China re-imposing COVID-19 restrictions just weeks after the nation lifted a strict lockdown in the financial capital.
According to Bloomberg, Beijing's local government said an outbreak linked to a popular bar is proving more difficult to control than previous clusters... Read More
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Nio operates in China's premium electric vehicle market. The company designs and jointly manufactures, and sells smart and connected premium electric vehicles.
According to data from Benzinga Pro, Nio has a 52-week high of $55.13 and a 52-week low of $11.67.
