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NIO stock price today is down 2.34% from yesterday's close of $30.79 per share. This is down 43.78% YTD, with a 52-week range between $29.06 and $66.99. The latest price drop follows news that the United States Securities and Exchange Commission (SEC) may begin delisting Chinese shares due to a failure to subject themselves to audit inspection by US regulators.
What exactly is NIO?
NIO is an electric car company aiming to be a pioneer in the future of transportation. With sleek designs and innovative features, this EV startup is sometimes referred to as the Tesla of China. But NIO is much more than vehicles.
NIO Power is the company's mobile internet-based power solution that offers extensive networks for battery charging and battery swap facilities. Users can enjoy charging at home, with battery swap stations, public chargers, or with a portable power bank requested through the NIO app.
Why are investors looking at NIO stock?
The Chinese EV market is just warming up and NIO is Tesla's main competitor. In April, NIO held 23% of China's electric SUV market compared to Tesla's 17%. However, investors should be weary of resource constraints for EV makers. Graphite supply for battery production is the latest concern.
NIO stock is only the beginning
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