Why NIO Shares Are Falling
Portfolio Pulse from Henry Khederian
NIO shares are trading lower by 3.41% due to weak financial results and guidance from Chinese EV-maker XPeng. Surging COVID cases in China and a Barclays downgrade of XPeng also contribute to the decline.
May 25, 2023 | 2:38 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
NIO shares are down 3.41% due to weak financial results and guidance from peer Chinese EV-maker XPeng, surging COVID cases in China, and a Barclays downgrade of XPeng.
NIO shares are falling due to weak financial results and guidance from peer Chinese EV-maker XPeng, which reported worse-than-expected Q1 results. Additionally, surging COVID cases in China are causing weakness across Chinese stocks, and Barclays downgraded XPeng from Equal-Weight to Underweight, lowering its price target from $8 to $6. These factors are negatively impacting NIO's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100