Nio shares sink after earnings; investors cut price targets
Nio Inc. shares closed down 4% on Tuesday after a third straight quarter of adjusted operating profit, revenue that missed its own prior ranges, and a third-quarter outlook for only modest sequential growth.
Shares of Chinese EV maker Nio Inc. (NIO) closed down 4% on Tuesday after the company reported a third straight quarter of adjusted operating profit, revenue that missed its own prior ranges, and a third-quarter outlook indicating only modest sequential growth, spurring Wall Street price cuts and d…