Fears of a U.S. delisting for stocks which don’t comply with U.S. auditing laws have been casting a shadow over Chinese stocks for a while now. However, the U.S. Securities and Exchange Commission (SEC)’s latest list of 80 companies potentially facing the cull sent shares of many spiraling down on Thursday. Among those taking a sharp beating were shares of Chinese EV maker Nio (NIO), which crashed by 15%, further piling on the losses; shares now sit 50% into the red in 2022. However, following the disclosure, Nio also provided some news that could serve to sweeten the pill somewhat.
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NIO (NYSE:NIO)
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