U.S. Markets closed
  • S&P Futures

    4,247.25
    +1.50 (+0.04%)
     
  • Dow Futures

    34,459.00
    -3.00 (-0.01%)
     
  • Nasdaq Futures

    14,015.75
    +21.50 (+0.15%)
     
  • Russell 2000 Futures

    2,330.70
    +0.20 (+0.01%)
     
  • Crude Oil

    70.92
    +0.01 (+0.01%)
     
  • Gold

    1,872.10
    -7.50 (-0.40%)
     
  • Silver

    27.92
    -0.23 (-0.80%)
     
  • EUR/USD

    1.2101
    -0.0006 (-0.0484%)
     
  • 10-Yr Bond

    1.4620
    +0.0030 (+0.21%)
     
  • Vix

    15.65
    -0.45 (-2.80%)
     
  • GBP/USD

    1.4107
    -0.0010 (-0.0691%)
     
  • USD/JPY

    109.8250
    +0.1900 (+0.1733%)
     
  • BTC-USD

    39,000.95
    +3,153.70 (+8.80%)
     
  • CMC Crypto 200

    974.73
    +32.92 (+3.50%)
     
  • FTSE 100

    7,134.06
    +45.88 (+0.65%)
     
  • Nikkei 225

    29,049.38
    +100.65 (+0.35%)
     

Why NIO Stock Is Down Today

·2 min read
Why NIO Stock Is Down Today
  • Oops!
    Something went wrong.
    Please try again later.

Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were trading lower on Thursday, after a Wall Street analyst said that the ongoing global shortage of semiconductors will continue to hold NIO's production down for a while longer. As of 1:30 p.m. EDT, NIO's American depositary shares were down about 7.5% from Wednesday's closing price. Citibank analyst Jeff Chung, who recently hosted a call with NIO management, wrote on Thursday that the chip shortage has remained "the key constraint" for NIO's production in May. NIO, along with Ford Motor Company, BMW, and Honda Motor, has suffered from the effects of a February fire at Japanese chipmaker Renesas, which has reduced some auto suppliers' access to chips even further for the time being.