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Motley Fool
Why Is Nio Stock Dropping Despite Record Deliveries?
Shares of electric vehicle maker Nio (NYSE: NIO) rose 3% Friday morning before losing ground as the day progressed, trading down just about 0.5% as of 1:40 p.m. today. The weakness in the EV stock’s price is surprising given that Nio reached a milestone and reported solid delivery numbers for September today, even topping its own projections. Nio delivered a record number of 10,628 vehicles in total in September, up 125.7% year over year.
