NIO stock is facing one of its worst weeks as the stock has slumped to a new low this week. There was so much optimism when Chinese electric carmaker Nio Inc. (NYSE:NIO) debuted on the New York Stock exchange last year. However, things have turned bleak after the company reported a larger-than-expected Q2 loss of $462 million.
Q3 Earnings ProjectionThe company, often called the Tesla (NASDAQ:TSLA) of China, also predicted an uninspiring third quarter. Nio witnessed a decline in sales in the second quarter as demand for its electric cars softened and competition increased. Analysts ...
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