Headquartered in Shanghai, China, NIO Inc. (NIO) is a pioneer and a leading company in the premium smart electric vehicle market. The company provides five, six, and seven-seater electric SUVs and smart electric sedans. In addition, it manufactures e-powertrains, battery packs, and components and offers sales and after-sales management activities.
With the Fed’s persistent hawkish stance, rising bond yields, and increasing odds of an economic downturn, investors are fleeing riskier growth stocks such as NIO. The stock has plunged 71.1% year-to-date and 76.2% over the past year to close the last trading session at $9.69. It is currently trading 78.1% below its 52-week high of $44.27, which it hit on November 8, 2021.
