NIO Stock Hits 3-Year Low as Nio Slashes Delivery Target

News Snapshot:

InvestorPlace - Stock Market News, Stock Advice & Trading Tips After descending into penny stock territory yesterday, the future looks bleak for Nio (NYSE:NIO) stock. The Chinese electric vehicle (EV) producer saw shares plunge yesterday. Today, they reached their lowest price point in three years. Yesterday’s decline is due to the company slashing its delivery outlook due to falling demand. However, NIO stock is facing other challenges that threaten to compromise its growth prospects further as the company faces an uncertain economic landscape. Other Chinese EV producers have also reported disappointing forecasts, such as Li Auto (NASDAQ:LI), which recently slashed...