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