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Benzinga
Benzinga
Business
Henry Khederian

Why Nio Stock Is Falling Today

NIO Nio Inc Covid-19 Shanghai

Nio Inc - ADR (NYSE:NIO) shares are trading lower by 6.40% to $20.77 Wednesday morning. Shares of Chinese companies at large are trading lower after Shanghai announced it will be conducting mass COVID-19 testing in several districts following a rise in cases.

Per CNN, China's northwestern city of Xi'an, a financial hub home to 13 million people, was partially shut down on Wednesday after it reported the country's first outbreak of a highly transmissible new Omicron subvariant.

See Also: Do You Believe Bitcoin Is Going Above $30K, Ethereum Above $2K And Dogecoin Above 15 Cents By End Of July?

According to data from Benzinga Pro, Nio has a 52-week high of $51.74 and a 52-week low of $11.67.

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