NIO-SW's stock plummeted 5.39% during intraday trading on Thursday, as the electric vehicle maker faced significant selling pressure.
The decline was primarily triggered by overnight weakness in US markets, where all three major indices closed lower and Chinese concept stocks broadly retreated. The Nasdaq China Golden Dragon Index fell 1.79% overnight, while NIO dropped over 3% on its US listing, with the weakness transmitting directly to Hong Kong-listed shares.
Additionally, Bernstein maintained a Hold rating on NIO Inc. Class A with a price target of HK$47.00, which may have contributed to investor caution amid the broader market sell-off.
Comments