NIO slides as losses widen on China EV price war pressure
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NIO Inc shares fell nearly 4% in pre-market trading after reporting a 2.1% drop in revenue and wider losses for Q3, amid a price war in China's EV market.
November 20, 2024 | 11:30 am
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NIO Inc shares fell nearly 4% in pre-market trading after reporting a 2.1% drop in revenue and wider losses for Q3, amid a price war in China's EV market.
NIO's Q3 results showed a decline in revenue and increased losses, which are negative indicators for investors. The ongoing price war in China's EV market adds further pressure, likely leading to a short-term decrease in stock price.
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