NIO Stock Forecast: Nio Inc tumbles during a bearish close to the week for US markets

NYSE: NIO fell by 6.11% during Friday’s trading session.
Domestic leader BYD is making major moves to expand its global reach.
XPeng is added to the Hang Seng tech index in Hong Kong.

Stocks Reporter FXStreet

NYSE: NIO succumbed to broader selling pressure on Friday as the US government firmly believes that Russia is planning its imminent attack on Ukraine. The ongoing geopolitical tensions held the markets lower this week, after a brief window of hope on Wednesday after Russia pulled back some troops from the border. On Friday, shares of Nio sank by 6.11% and closed the trading session at $23.21. All three major indices fell for the second straight session and the broader markets closed the week lower for the second straight week. The NASDAQ fell by 1.23%, the S&P 500 dipped by 0.72%, and the Dow Jones dropped by 232 basis points to close the week.

Stay up to speed with hot stocks' news!

While much of the discussion of the Chinese EV market revolves around Nio, XPeng (NYSE: XPEV), and Li Auto (NASDAQ: LI), the overwhelming leader in new energy vehicle production is BYD. On Saturday, the company will be launching its Atto 3 crossover in Australia. This will be BYD’s first expansion into Australia in the electric vehicle market, and is sending one of its top sellers, the Yuan Plus rebranded as the Atto 3. BYD leads the Chinese new energy vehicle market, and is rapidly expanding its market around the world.

NIO stock price

Meanwhile in Hong Kong, Nio-rival XPeng has been added to the exclusive Hang Seng Tech index as a constituent stock as of March 7th. This index lists the 30 top technology companies listed in Hong Kong, and XPeng will be one of the newest additions under the index’s Autonomous technology segment. Nio was looking to list in Hong Kong last year and has since turned its eyes to Singapore’s exchange in addition to its current listing as an ADR on the New York Stock Exchange.

Like this article? Help us with some feedback by answering this survey:

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

AUD/USD falls to near 0.7100 after slipping below 50-day EMA

AUD/USD depreciates after registering minor gains in the previous day, trading around 0.7120 during the Asian hours. The technical analysis of the daily chart shows the pair consolidating sideways within a rectangle pattern, as neither bulls nor bears gain control. The AUD/USD pair is holding a slight bearish tone however as it sits beneath both the nine-day and 50-day EMAs.

160.00: USD/JPY back near intervention territory after upbeat US jobs report

US Nonfarm Payrolls beat expectations by a wide margin in May, with 172K jobs added. The US Dollar rebounds after the release, helping USD/JPY recover from its intraday lows. Warnings from Japanese authorities continue to limit upside potential near the 160.00 threshold.

Gold targets $4,300 amid stronger Dollar

Gold faces increasing selling interest and navigates the area of three-month lows near the $4,300 mark per troy ounce on Friday. The precious metal’s decline comes as traders assess the stronger-than-expected NFP, while the bid bias in the Greenback and higher US Treasury yields also collaborate with the retracement.

Cardano hits five-year low even as Hoskinson clarifies "break" isn't an exit

Cardano (ADA) price is down 10% at press time on Friday, extending losses over 30% so far this week amid Charles Hoskinson's clarification that "break" isn't an exit.

Week ahead – Fed countdown begins amid US inflation data and geopolitical risks

Fed Chair Warsh’s first meeting approaches as key US inflation data could reshape expectations. Oil prices remain elevated as US-Iran talks continue; tariffs also return to the spotlight. ECB is expected to hike; will it be a one-off move or is July live?

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.