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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%.

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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 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.

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