TRENDING:

GBP/USD

XAU/USD

NIO Stock Forecast: Nio Inc extends decline following weak Chinese tech earnings

NYSE:NIO fell by 3.18% during Thursday’s trading session.
Weaker than expected earnings from Chinese big tech has sent ADRs reeling.
Nio branches out and delivers a fleet of electric police cars in Qingdao.

Stocks Reporter FXStreet

NYSE:NIO was a part of a larger group of Chinese ADR stocks that were dragged down by disappointing tech earnings in China. The Hang Seng index in Hong Kong fell by 1.3% during the day, marking the second straight negative session. Shares of Nio fell by 3.18% in sympathy and closed the trading day at $38.41. With the drop, Nio is on the verge of losing its key 50-day moving average, which would present a bearish short-term downtrend. Falling alongside Nio on Thursday were domestic rivals XPeng (NYSE:XPEV) and Li Auto (NASDAQ:LI) which were down 2.13% and 3.73% respectively during the session.

Stay up to speed with hot stocks' news!

The major news for Chinese ADRs on Thursday was the weaker than expected earnings report from Alibaba (NYSE:BABA). Earnings tumbled for the eCommerce giant, a result that was directly attributed to the ongoing regulatory crackdown by the Chinese government. Alibaba also slashed guidance for the rest of the year, lowering its expected revenue growth by 5-10%. Alibaba's rival JD.Com (NASDAQ:JD) saw its shares rise by 5.95% stateside as the company managed to top estimates and grow its annual active customers by 25% year over year.

NIO stock price

In some interesting news on Thursday, Nio has established a potential new customer base as it delivered its first eight electric vehicles to the Qingdao Police force. In July, Nio had signed a new agreement to make it easier for government agencies in China to acquire its vehicles, so we could see more of these deals made in the future. Nio also recently established a battery swap station in Qingdao, as well as a 180 kw charging hub.

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Stocks Reporter

FXStreet

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD keeps range near 1.1750 ahead of German/ EU PMI data

EUR/USD maintains its range trade at around 1.1750 in European trading on Tuesday. The pair's volatility remains low, with investors awaiting a bunch of top-tier economic data releases from Germany, Eurozone and the US. The immediate focus is on the German and Eurozone preliminary PMI data.

GBP/USD holds steady below 1.3400 after mixed UK labor data

GBP/USD is trading around a flat line below 1.3400 in the European session on Tuesday. The UK ILO Unemployment Rate rose to 5.1% in the quarter to October, meeting expectations, while the pay growth cooled down sligthly in the same period, doing little to affect the Pound Sterling.

Gold bulls move to the sidelines ahead of delayed US NFP report

Gold attracts some sellers during the Asian session on Tuesday and extends the overnight pullback from the $4,350 region, or the vicinity of the highest level since October 21, touched last week. The intraday downtick comes amid optimism over the Russia-Ukraine peace deal, which is seen undermining demand for the traditional safe-haven commodity.

Sui Price Forecast: Sui slips below $1.50 as network demand and risk appetite wane

Sui remains under intense bearish pressure, extending losses by 1% at press time on Tuesday for the third straight day.

NFP preview: Complex data release will determine if Fed was right to cut rates

The long wait is over, and the Bureau of Labor Statistics in the US will release nonfarm payrolls reports for both November and October at 1330 GMT on Tuesday. The overall NFP figure for October is expected to be -10k, however, it is expected to be influenced by a massive 130k drop in federal department workers.

BNB Price Forecast: BNB slips below $855 as bearish on-chain signals and momentum indicators turn negative

BNB, formerly known as Binance Coin, continues to trade down around $855 at the time of writing on Tuesday, after a slight decline the previous day. Bearish sentiment further strengthens as BNB’s on-chain and derivatives data show rising retail activity.

NIO stock price

Legal Text

Markets move fast. We move first.

Editor's Picks

Best Brokers in 2025