Why NIO Stock Dropped Then Bounced Today

With anticipation of high growth for EVs in the largest global auto market, it doesn’t take much news to move the Chinese EV stocks on U.S.

The surprise was that it is coordinating with NIO to allow Mach-E owners to use the NIO charging network, which would become a new source of revenue for the Chinese EV maker.

Mustang Mach-E users can access over 300,000 high-quality public charging piles, of which 160,000 are fast charging, in more than 340 cities across the country through an exclusive APP.

NIO shares have soared more than 1,000% in the past 12 months, but a more than 25% retrenchment since the start of 2021 has more investors interested in the name.

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