The worst may be over for the stock market for this cycle, but many economists see more pain ahead for 2023, including a possible recession that will create poor financial-performance comparisons for companies and send stock prices even lower. Greg Adams, director of quantitative and risk management at fund manager Alger, recommends that investors focus on companies with solid balance sheets and strong cash flow to endure tough times. Alger is based in New York and has $26 billion in assets under management. Read More...
MarketWatch
Nio stock falls after EV maker cut delivery outlook
Shares of Nio Inc. took a dive Tuesday, after the China-based electric vehicle maker said it was “prudently” cutting its fourth-quarter deliveries estimate, citing COVID-related production challenges and continued supply chain constraints. “In December 2022, the company has been facing challenges in deliveries and productions, together with certain supply chain constraints, caused by the outbreak of the omicron coronavirus variant in major cities in China,” Nio said in a statement. Nio’s stock slumped 4.9% in premarket trading Tuesday, putting it on track to open at the lowest price seen during regular-session hours since Nov. 29.
