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home / news releases / NIO - Nio Just Cut Delivery Estimates. Is It Time to Sell the Stock?

NIO - Nio Just Cut Delivery Estimates. Is It Time to Sell the Stock?

NIO Inc. American depositary shares each representing one Class A

2024-03-27 14:05:23 ET

American depositary shares of Chinese electric vehicle (EV) maker Nio (NYSE: NIO) plunged as much as 7% Wednesday morning after the company lowered first-quarter delivery estimates.

Nio had previously told investors it expected to ship as many as 33,000 vehicles in the quarterly period. Now it sees only about 30,000 units to be delivered. That news added to the pessimism investors have already felt regarding Nio's prospects. Nio shares are now down about 50% just this year.

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Nio Just Cut Delivery Estimates. Is It Time to Sell the Stock?
Stock Information
Company Name: NIO Inc. American depositary shares each representing one Class A
Stock Symbol: NIO
Market: NYSE
Website: nio.com
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