NIO - Why Nio Stock Slumped This Week but Could Rebound
2024-06-07 11:57:32 ET
Shares of Chinese electric vehicle manufacturer Nio (NYSE: NIO) got a much-needed breather in May after a dismal start to 2024, but the recovery has only lasted so long. The electric vehicle (EV) stock has already shed most of May's gains in the first week of June, dropping 12.1% at its lowest point in trading this week through 10 a.m. ET Friday, according to data provided by S&P Global Market Intelligence .
Nio's quarterly numbers disappointed investors, but the EV maker's monthly deliveries are finally picking up pace as expected. Is Nio stock's drop this week an opportunity to buy?
Let's first check the key numbers from Nio's first quarter:
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Why Nio Stock Slumped This Week but Could Rebound