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Here’s Why Nio Shares Are Falling


© Reuters. Here’s Why Nio Shares Are Falling

Shares of several Chinese companies, including Nio Inc – ADR (NYSE: NIO), are trading lower as investors digest recent economic data. Investors also continue to assess the economic impact of a surge in COVID cases in China.

According to CNN, at least 44 Chinese cities are under either a full or partial lockdown as authorities grapple with curbing the spread of COVID-19. Hong Kong confirmed 747 new coronavirus cases on Sunday as residents stepped out during the long-weekend Easter break after restrictions were eased.

See Also: Why DiDi Global Stock Is Falling

Nio operates in China’s premium electric vehicle market. The company designs and jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving and artificial intelligence.

According to data from Benzinga Pro, Nio has a 52-week high of $55.13 and a 52-week low of $13.01.

© 2022 Benzinga does not provide investment advice. All rights reserved.

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Here’s Why Nio Shares Are Falling

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