After gaining about 20% over the past month, the ADR (American Depositary Receipt) of the Chinese EV maker Nio (NIO) is beginning to lose steam. See Top Smart Score stocks >> What Changed? The ongoing supply chain challenges and weak October deliveries weighed on Nio stock.  To provide a little background, the recent momentum in Nio stock reflected its better-than-expected Q3 deliveries. The EV maker delivered 24,439 vehicles in Q3, well above its guidance of 22,500 to 23,500 vehicles. Q3 deliveries recorded more than 100% growth. Furthermore, Goldman Sachs turned bullish on Nio stock, adding to the market’s euphoria.
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NIO (NYSE:NIO)
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NIO (NYSE:NIO)
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From Jan 2021 to Jan 2022 Click Here for more NIO Charts.