NIO Stock Forecast: Nio rises on open before falling flat
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFER- NYSE:NIO fell by 4.92% during Monday’s trading session.
- The broader EV sector fell on Monday as growth stocks faltered.
- US EV maker Lucid receives the MotorTrend 2022 Car of the Year award.
UPDATE: An early 1.2% jump for NIO at the open faltered after the first 10 minutes of trading on Tuesday's New York open. NIO stock is trading around Monday's close of $40.57.
NYSE:NIO has had a turbulent couple of weeks and the volatility continued into Monday’s trading session. Shares of NIO fell by 4.92% to start the week, closing the trading day at $40.57. Nio has been feeling pressure from investors following its recent third-quarter earnings report and disappointing October delivery numbers. The company is also feeling the heat in its domestic market of China, after a recent report that German automaker Volkswagen has already surpassed Nio in terms of electric vehicle deliveries. All eyes will be on the Nio Day event which will take place in China at the end of December.
Stay up to speed with hot stocks' news!
Nio was definitely not the only electric vehicle stock to fall on Monday as growth stocks across the board were trending lower. It was partially due to broader weakness from the markets as all three major indices either finished flat or slightly in the red. Nio rivals XPeng (NYSE:XPEV) and Li Auto (NASDAQ:LI) fell by 2.12% and 1.81% respectively on Monday, while electric vehicle industry leader Tesla (NASDAQ:TSLA) continued its sell-off, falling by a further 1.94%.
NIO stock price
One of Nio’s North American rivals, Lucid Group (NASDAQ:LCID) was one of the only automakers to finish Monday’s session in the green. Lucid reported its first earnings report as a publicly-traded company and also received the award for MotorTrend’s 2022 Car of the Year. Lucid only started delivering its vehicle at the end of October, but the luxury vehicles have been turning heads and receiving rave reviews across the internet. Shares of Lucid closed Monday up 2.16%.
- NYSE:NIO fell by 4.92% during Monday’s trading session.
- The broader EV sector fell on Monday as growth stocks faltered.
- US EV maker Lucid receives the MotorTrend 2022 Car of the Year award.
UPDATE: An early 1.2% jump for NIO at the open faltered after the first 10 minutes of trading on Tuesday's New York open. NIO stock is trading around Monday's close of $40.57.
NYSE:NIO has had a turbulent couple of weeks and the volatility continued into Monday’s trading session. Shares of NIO fell by 4.92% to start the week, closing the trading day at $40.57. Nio has been feeling pressure from investors following its recent third-quarter earnings report and disappointing October delivery numbers. The company is also feeling the heat in its domestic market of China, after a recent report that German automaker Volkswagen has already surpassed Nio in terms of electric vehicle deliveries. All eyes will be on the Nio Day event which will take place in China at the end of December.
Stay up to speed with hot stocks' news!
Nio was definitely not the only electric vehicle stock to fall on Monday as growth stocks across the board were trending lower. It was partially due to broader weakness from the markets as all three major indices either finished flat or slightly in the red. Nio rivals XPeng (NYSE:XPEV) and Li Auto (NASDAQ:LI) fell by 2.12% and 1.81% respectively on Monday, while electric vehicle industry leader Tesla (NASDAQ:TSLA) continued its sell-off, falling by a further 1.94%.
NIO stock price
One of Nio’s North American rivals, Lucid Group (NASDAQ:LCID) was one of the only automakers to finish Monday’s session in the green. Lucid reported its first earnings report as a publicly-traded company and also received the award for MotorTrend’s 2022 Car of the Year. Lucid only started delivering its vehicle at the end of October, but the luxury vehicles have been turning heads and receiving rave reviews across the internet. Shares of Lucid closed Monday up 2.16%.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.