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Why NIO Stock Dropped and Then Recovered Today

·2 min read
Why NIO Stock Dropped and Then Recovered Today
In this article:
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Chinese electric vehicle (EV) maker NIO (NYSE: NIO) has a market cap of more than $70 billion, so a small percentage move in the stock isn't overly impactful. The initial drop might have been in response to news that the company's vice president for software product management was leaving to work for General Motors (NYSE: GM). Rachad Youssef has become chief product officer for GM's BrightDrop EV subsidiary, effective immediately.