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Why Nio Stock Is Plunging Today
After a stunning double-digit rally in its shares yesterday, Nio (NYSE: NIO) is swiftly giving up all of those gains and more today. March 10 will go down in Nio’s history as an important day: The company’s shares started to trade on the Hong Kong stock exchange. Nio decided to list in Hong Kong after regulatory pressure on foreign stocks in the U.S. intensified, with the Securities and Exchange Commission’s recent rule allowing the delisting of foreign stocks in the U.S. if the companies fail to meet audit requirements.
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