NIO Stock Hit A New 52-Week Low: What's Going On?

NIO Inc – ADR NIO shares are trading lower by 2.3% to $6.40 during Wednesday’s session. Shares of US-listed Chinese stocks are trading lower after China missed GDP and retail sales estimates.

The EV space may also be down in continued reaction to recent Tesla Inc price cuts in China.

What’s Going On In China?

China’s Premier, Li Qiang, assured the World Economic Forum in Davos that China’s economy is resilient to performance fluctuations, with a consistent long-term growth trajectory.

A notable announcement was the early disclosure of China’s projected GDP growth for 2023 at approximately 5.2%, exceeding the targeted 5% before official figures are released…Read More

According to data from Benzinga Pro, NIO has a 52-week high of $16.18 and a 52-week low of $6.12.