NIO Slides 15% This Week; Wednesday Sets Up Next Move
NIO’s U.S.-listed shares fell 7.14% Friday to $5.20, erasing recent gains despite stronger first-quarter margins and higher deliveries. The NYSE is closed Monday for Memorial Day, delaying the next trading session to Tuesday, when NIO launches its ES9 SUV. First-quarter vehicle margin rose to 18.8%, but deliveries dropped sharply from the previous quarter. Competition from Xpeng, BYD, and Li Auto is intensifying.