Shares of Chinese companies, including Nio Inc (NYSE:NIO), are trading lower, possibly on continued weakness amid COVID-19 concerns in China, which have led to lockdown measures and caused economic uncertainty.
The COVID-19 lockdown in Shanghai and other parts of China has weighed on the broader Chinese economy and Chinese stocks in April. The IMF also recently downgraded China’s growth forecast to 4.4% from 4.8%, citing pain from its coronavirus restrictions.
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Nio operates in China's premium electric vehicle market.
According to data from Benzinga Pro, Nio has a 52-week high of $55.13 and a 52-week low of $13.01.
