Shares of Nio Inc – ADR (NYSE:NIO) hit a new 52-week low Monday afternoon. The Chinese electric vehicle manufacturer continues to face persistent selling pressure driven by broader EV sector margin compression and intensifying price wars across the domestic market.
NIO stock is testing key support levels. Why are NIO shares at support?
Q2 Earnings Expectations On Deck Tuesday Morning
The stock’s slide to new lows comes directly ahead of Nio’s second-quarter financial report, set for release before the market opens on Tuesday. Wall Street analysts expect the company to post an adjusted loss of approximately 7 cents per share on revenue of $4.78 billion.
Investors will also evaluate whether robust operational volume, supported by 107,658 vehicle deliveries during the three-month period ending June 30 (a 49.4% year-over-year increase), can successfully stem gross margin erosion and narrow net losses.
