NIO ADR Stock News

Shares of NIO (NYSE:NIO) mirrored the market today, which pulled back after posting all-time highs on back-to-back days.

Take two revolutionary automotive companies, roughly similar in size, with similar amounts of net cash on the balance sheet, but neither one profitable, and both burning cash at phenomenal rates.

Nio stock price has slumped in the past few years, becoming one of the worst-performing electric vehicle companies in China. It has dropped by 26% in the last 12 months and 93% from its highest level in 2021.

Shares of NIO (NYSE:NIO) popped 2.3% at the open on Thursday before tapering off and finishing the day up 1.19%.

NIO Inc.'s stock is trading lower on Tuesday following an announcement by BYD Auto regarding the inclusion of self-driving technology in its vehicles. The announcement is probably seen as a competitive challenge for NIO, as BYD's integration of advanced technology into more affordable models could pressure premium EV brands.

Nio (NIO) might be making progress on several fronts, but the stock hasn't been reflecting it. And now, one Wall Street analyst has cut his firm's price target on the Chinese electric vehicle (EV) maker by one-third.

Shares of NIO (NYSE:NIO) chopped around on Thursday before ending the day down -0.12%.

American stocks have a long history of doing well, with the Dow Jones, Nasdaq 100, and S&P 500 indices nearing their all-time highs. This growth has made some companies highly expensive, with the Berkshire Hathaway stock soaring to over $700k.