- NIO stock has sunk to a near four-year low near $4.50.
- Tesla upended the EV market with declining deliveries in Q1.
- Rivian beat consensus for deliveries in Q1 but saw its stock price descend.
- Strong US manufacturing data is pressuring equities.
Nio (NIO) stock drifted to its lowest level in nearly four years on Tuesday after Tesla (TSLA) announced its first decline in deliveries since 2020. Despite a decent showing in its own March delivery data on Monday, sentiment surrounding the Chinese electric vehicle (EV) automaker Nio has dwindled. Nio stock closed 2.2% lower at $4.54.
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