- NYSE:NIO gained 1.46% during Tuesday’s trading session.
- Nio and Tesla investors brace themselves for further lockdowns in Shanghai.
- Tesla’s Berlin GigaFactory is having some difficulties providing Model Y vehicles to customers.
NYSE:NIO rebounded nicely from some bearish sentiment on Monday as the Chinese EV maker outperformed the broader markets. On Tuesday, shares of Nio gained 1.46% and closed the trading session at $20.87. Stocks were mostly mixed on Tuesday although all three major indices closed the day in the red. Investors paused ahead of the key June CPI report that is set to be released on Wednesday morning. Overall, the Dow Jones dropped by 192 basis points, the S&P 500 fell by 0.92%, and the NASDAQ dropped by 0.95% during the session.
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As cases of the latest variant of COVID-19 continue to climb in various regions of China, investors are bracing for another series of lockdowns. Beijing has made it clear that it will continue to follow its Zero-COVID policy by issuing strict lockdown procedures whenever a breakout is confirmed. Of course, this directly impacts companies like Nio and Tesla (NASDAQ:TSLA) which have production facilities in the region. Both companies are just now recovering from the previous lockdowns in the area, and any further restrictions could have consequences on another quarter of deliveries for the industry.
NIO stock forecast
Some other issues are surfacing for Tesla’s new GigaFactory in Berlin, Germany. Reports suggest that consumers can only purchase black or white vehicles right now, and that other colors need to be delivered from its factory in Shanghai. Tesla CEO Elon Musk has already referred to the new factories as money furnaces, as several of them are about to shut down to upgrade the infrastructure to increase production capacity. Shares of TSLA were down by 0.54% on Tuesday.
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