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Nio stock dives, Tesla slips toward 10-month low after XPeng's disappointing outlook

·1 min read
Nio stock dives, Tesla slips toward 10-month low after XPeng's disappointing outlook
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The U.S.-listed shares of Nio Inc. dove 4.8% in morning trading Monday, to buck the rally in the broader stock market, after fellow China-based electric vehicle maker XPeng Inc. provided a disappointing second-quarter revenue outlook. Nio's stock drop comes after it had bounced 29.3% over the past seven sessions, off the 22-month closing low of $12.71 on May 11. Earlier Monday, XPeng reported a first-quarter loss that widened from year ago but beat expectations, as revenue more than doubled from