Nio Stock Falls to Key Support Level Despite Strong Delivery and Revenue Growth - NIO (NYSE:NIO)

NIO (NYSE:NIO) stock has continued to slide, entering a local bear market after falling nearly 30% from its May peak. The shares are now trading near their lowest level since March, even as the company continues to report strong growth in vehicle deliveries.

Nio Stock Has Slipped as Investors Sell Chinese EV Shares

Nio Shares Have Hit a Crucial Support Level

Nio stock chart | Source: TradingView

Nio, a top Chinese electric vehicle manufacturer, has come under pressure in the past few months. This retreat started in April when it peaked at $7, its highest level since November last year.