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NIO stock price is down because of Tesla, says analysts, Nio being “Tesla of China”.
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Reports suggest that NIO may deliver a loss for the quarter on November 9th.
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Nio Inc. – ADR (NYSE: NIO) is planning to sell branded semiconductor chips and smartphones.
Low earnings by Tesla (NASDAQ: TSLA) is affecting other EV manufacturers like NIO, as NIO stock price also slumped yesterday. The opening price for NIO (NYSE: NIO) was at $7.76 on October 20. As Tesla stock price slipped yesterday other EV manufacturers stock also slipped following the path of downfall. Analysts are blaming Elon Musk’s Tesla for the slippage of other EV stocks. The upcoming quarterly reports of NIO may showcase a loss of 43 cents per share, suggests analysts.
Nio Being Like, Who’s Tesla?
Nio is promoting itself as “Tesla of China”. Tesla’s operating margin was only 7.6%, and its earnings were 66 cents per share, falling short of the expected 73 cent
We współpracy z: https://www.thecoinrepublic.com/2023/10/20/nio-inc-adr-elon-must-be-affecting-nio-stock-price-nio-down/
