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Motley Fool
Why Nio Stock Dropped Then Popped on Thursday
Shares of Chinese electric-vehicle (EV) maker Nio (NYSE: NIO) took a turn for the worse Thursday morning, falling 2.3% in the first five minutes after the market opened. A car emerges from Nio’s Power Swap battery-swapping station. The 7,000-plus cars sold in a month is better than Nio’s performance a year ago, and better than April, but it doesn’t hold a candle to what Tesla (NASDAQ: TSLA) is capable of producing at its Shanghai Gigafactory: as many as 2,600 cars a day at peak capacity.
