- NYSE: NIO fell by 4.04% during Tuesday’s trading session.
- Nio hits social media and teases a new vehicle model.
- Toyota announces a major EV initiative that could have a ripple effect across Asia.
NYSE: NIO investors saw the volatility continue for the Chinese EV maker, as the stock fell sharply to extend its losing streak to two straight days. Shares of Nio fell by 4.04% on Tuesday and closed the trading day at $32.30. The popular stock is trading well below both its 50-day and 200-day moving averages and is currently mired in a bearish downtrend alongside much of the EV sector. All three major US indices were ravaged once again, falling for the second consecutive session to start the week. The NASDAQ led the way, shedding a further 1.14%, while the Dow Jones and S&P 500 dipped by 0.30% and 0.75% respectively.
Stay up to speed with hot stocks' news!
Nio’s downward pressure on Tuesday came despite the company taking to social media to tease the debut of a new model at the upcoming Nio Day Event. Most rumors about Nio unveiling a new model have been swirling around the ET5 sedan and the EF9 sports coupe. The image shows a silhouette of a vehicle with only the lights on, and those on social media have been speculating that the shape of the lights is more indicative of a sedan than a coupe. Still, Nio could have a complete surprise up its sleeve, so all eyes will be on the presentation on December 18th.
NIO stock price
Another factor that may have been affecting Nio investors was the announcement earlier on Tuesday that Japanese automaker Toyota is shifting its focus to electric vehicles. Toyota, one of the world’s largest and most influential automakers, is dedicating $30 billion USD to updating its fleet and plans to have 30 different battery-powered electric vehicles on the roads by 2030. Toyota went on to say that China is one of the markets it will be targeting for its rollout, which could mean a lot more competition for companies like Nio by the end of this decade.
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD clings to strong daily gains near 1.0400
EUR/USD remains on track to post strong gains despite retreating from the session high it set above 1.0430. The positive shift in risk mood, as reflected by the bullish action seen in Wall Street, forces the US Dollar to stay on the back foot and helps the pair hold its ground.
GBP/USD surges above 1.2500 as risk flows dominate
GBP/USD extends its recovery from the multi-month low it set in the previous week and trades above 1.2500. The improving market sentiment on easing concerns over Trump tariffs fuelling inflation makes it difficult for the US Dollar (USD) to find demand and allows the pair to stretch higher.
Gold firmer above $2,630
Gold benefits from the broad-based US Dollar weakness and recovers above $2,630 after falling to a daily low below $2,620 in the early American session on Monday. Meanwhile, the benchmark 10-year US Treasury bond yield holds above 4.6%, limiting XAU/USD upside.
Bitcoin Price Forecast: Reclaims the $99K mark
Bitcoin (BTC) trades in green at around $99,200 on Monday after recovering almost 5% in the previous week. A 10xResearch report suggests BTC could approach its all-time high (ATH) of $108,353 ahead of Trump’s inauguration.
Five fundamentals for the week: Nonfarm Payrolls to keep traders on edge in first full week of 2025 Premium
Did the US economy enjoy a strong finish to 2024? That is the question in the first full week of trading in 2025. The all-important NFP stand out, but a look at the Federal Reserve and the Chinese economy is also of interest.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.