Business
Keep on Avoiding Nio Stock, as Signs Point to Even Lower Prices – InvestorPlace
Expect Nio’s current hiccups to continue putting downward pressure on NIO stock. Not yet finding its floor, its share price could still drift back below $30 per…
When I last wrote about Nio (NYSE:NIO
) stock last month, I made the case that it was ready to take another tumble. So far, that’s ended up being the case. Since late April, when shares in the Chinese electric vehicle (EV) play were finding support at around $35-$40 per share, the stock has seen a further slide. Trending lower, it’s currently at around $32 per share.
The reason? For one, fading interest in EV stocks. Other major names in this space, including Tesla (NASDAQ:TSLA
) continue to pull…
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