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Why Nio Shares Are Falling

00:00:58

Nio shares are trading lower. Weakness appears related to COVID-19 omicron variant uncertainty, which has caused volatility in Chinese stocks. Concerns over Chinese listings have also weighed on some Chinese stocks. Nio, which delivered a record 10,878 vehicles in November, reassured investors that despite omicron, its important annual showcase is on track to happen later this month. However, shares of Nio fell Thursday after a CNBC article noted that "Foreign public companies that are listed in the United States may be delisted if their auditors do not comply with requests for information from U.S. regulators." Nio operates in China's premium electric vehicle market. The company designs and jointly manufactures and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving, and artificial intelligence. Nio has a 52-week high of $66.99 and a 52-week low of $30.71.

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