NIO Stock News: Chengdu lockdown has Nio shedding another 3%
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UNLOCK OFFER- NYSE:NIO fell by 5.63% during Thursday’s trading session.
- Nio reported an 81.6% year over year rise in August deliveries.
- The US trading ban for semiconductors could be an issue for Nio.
UPDATE: Despite the fact that August deliveries saw a boost, news that was reported on Thursday, NIO has shed another 3.2% on Friday and is now trading at $18.20. It seems that the positive company news is no match for the advent of new covid lockdowns in Chengdu. The market is worried that such lockdowns could spread to other cities. NIO stock has already traded as low as $17.71 in the session, so it would be unsurprising if shares lose more ground as the session progresses. $19 call contracts for Friday, September 9 are already down more than 40% on Friday. About 3,300 contracts have already been traded, and the last price was $0.54 a share.
NYSE:NIO kicked off September on the backfoot during yet another turbulent day for the broader markets. On Thursday, shares of Nio dropped lower by 5.63% and closed the trading session at a price of $18.79. Stocks dropped lower at the start of the day as Wall Street looked to be heading to its fourth straight losing session early on. A late rally pushed the Dow Jones and the S&P 500 into positive territory, snapping the recent losing streak. Overall, the Dow added 145 basis points, the S&P 500 gained 0.30%, while the NASDAQ posted a loss of 0.26%.
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Chinese EV makers reported their August delivery numbers on Thursday morning. Nio reported an 81.6% year over year rise in deliveries for the month, highlighting that it had started to deliver its new ES7 SUV and its first batch of ET7 sedans to Europe. Nio also outpaced its rivals XPeng (NYSE:XPEV) and Li Auto (NASDAQ:LI) by a fair margin. All three EV makers saw their stocks fall as fresh new COVID lockdowns in China have placed over 21 million people in Chengdu under restrictions.
NIO stock forecast
Earlier in the day, the US announced a new license requirement for chip makers to sell certain types of semiconductors to China. These included data center chips from NVIDIA (NASDAQ:NVDA) and AMD (NASDAQ:AMD), specifically some NVIDIA chips that Nio uses in its EVs. The requirement was put in place for national and international security by the US, and as a result NVIDIA saw its stock close lower by 7.67% on Thursday.
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- NYSE:NIO fell by 5.63% during Thursday’s trading session.
- Nio reported an 81.6% year over year rise in August deliveries.
- The US trading ban for semiconductors could be an issue for Nio.
UPDATE: Despite the fact that August deliveries saw a boost, news that was reported on Thursday, NIO has shed another 3.2% on Friday and is now trading at $18.20. It seems that the positive company news is no match for the advent of new covid lockdowns in Chengdu. The market is worried that such lockdowns could spread to other cities. NIO stock has already traded as low as $17.71 in the session, so it would be unsurprising if shares lose more ground as the session progresses. $19 call contracts for Friday, September 9 are already down more than 40% on Friday. About 3,300 contracts have already been traded, and the last price was $0.54 a share.
NYSE:NIO kicked off September on the backfoot during yet another turbulent day for the broader markets. On Thursday, shares of Nio dropped lower by 5.63% and closed the trading session at a price of $18.79. Stocks dropped lower at the start of the day as Wall Street looked to be heading to its fourth straight losing session early on. A late rally pushed the Dow Jones and the S&P 500 into positive territory, snapping the recent losing streak. Overall, the Dow added 145 basis points, the S&P 500 gained 0.30%, while the NASDAQ posted a loss of 0.26%.
Stay up to speed with hot stocks' news!
Chinese EV makers reported their August delivery numbers on Thursday morning. Nio reported an 81.6% year over year rise in deliveries for the month, highlighting that it had started to deliver its new ES7 SUV and its first batch of ET7 sedans to Europe. Nio also outpaced its rivals XPeng (NYSE:XPEV) and Li Auto (NASDAQ:LI) by a fair margin. All three EV makers saw their stocks fall as fresh new COVID lockdowns in China have placed over 21 million people in Chengdu under restrictions.
NIO stock forecast
Earlier in the day, the US announced a new license requirement for chip makers to sell certain types of semiconductors to China. These included data center chips from NVIDIA (NASDAQ:NVDA) and AMD (NASDAQ:AMD), specifically some NVIDIA chips that Nio uses in its EVs. The requirement was put in place for national and international security by the US, and as a result NVIDIA saw its stock close lower by 7.67% on Thursday.
Like this article? Help us with some feedback by answering this survey:
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