free counter
Business

NIO Stock News: Chengdu lockdown has Nio shedding another 3%

  • NYSE:NIO fell by 5.63% during Thursdays trading session.
  • Nio reported an 81.6% year over year rise in August deliveries.
  • THE UNITED STATES trading ban for semiconductors could possibly be a concern for Nio.

UPDATE:Even though August deliveries saw a lift, news thatwas reported on Thursday, NIO has shed another 3.2% on Friday and is currently trading at $18.20. It appears that the positive company news is not any match for the advent of new covid lockdowns in Chengdu. The marketplace isworried that such lockdowns could spread to other cities. NIO stock has recently traded only $17.71 in the session, so that it will be unsurprising if shares lose more ground because the session progresses. $19 call contracts for Friday, September 9 already are down a lot more than 40% on Friday. About 3,300 contracts have been traded, and the final price was $0.54 a share.

NYSE:NIO kicked off September on the backfoot during another turbulent day for the broader markets. On Thursday, shares of Nio dropped lower by 5.63% and closed the trading session at a cost of $18.79. Stocks dropped lower in the beginning of the day as Wall Street looked to be going to its fourth straight losing session in early stages. 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%, as the NASDAQ posted a lack of 0.26%.


Stay up to date 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 began to deliver its new ES7 SUV and its own first batch of ET7 sedans to Europe. Nio also outpaced its rivals XPeng (NYSE:XPEV) and Li Auto (NASDAQ:LI) by way of a fair margin. All three EV makers saw their stocks fall as fresh COVID lockdowns in China have placed over 21 million people in Chengdu under restrictions.

NIOstock forecast

NIO Stock

Early in the day, the united states announced a fresh license requirement of chip makers to market certain forms 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 necessity was set up for national and international security by the united states, and for that reason NVIDIA saw its stock close lower by 7.67% on Thursday.


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

Home elevators these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled with this page are for informational purposes only and really should not at all run into as a recommendation to get or sell in these assets. You need to do your personal thorough research prior to making any investment decisions. FXStreet will not at all guarantee that information is clear of mistakes, errors, or material misstatements. In addition, it will not guarantee that information is of a timely nature. Buying Open Markets involves a lot of risk, like the lack of all or perhaps a part of your investment, in addition to emotional distress. All risks, losses and costs connected with investing, including total lack of principal, are your responsibility. The views and opinions expressed in this post are those of the authors and don’t necessarily reflect the state policy or position of FXStreet nor its advertisers. The writer will never be held accountable for information that’s found at the finish of links posted with this page.

Or even otherwise explicitly mentioned in your body of this article, during writing, the writer does not have any position in virtually any stock mentioned in this post and no method of trading with any business mentioned. The writer have not received compensation for writing this short article, apart from from FXStreet.

FXStreet and the writer usually do not provide personalized recommendations. The writer makes no representations regarding the accuracy, completeness, or suitability of the information. FXStreet and the writer will never be responsible for any errors, omissions or any losses, injuries or damages due to this information and its own display or use. Errors and omissions excepted.

The writer and FXStreet aren’t registered investment advisors and nothing in this post will be investment advice.

Read More

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker