Why Nio Shares Are Falling

Shares of several Chinese stocks, including Nio Inc - ADR NIO, are trading lower amid omicron variant concerns, weakness in Weibo following a regulatory fine and a rise in the US producer price index, which has added inflation concerns.

Nio is trading lower by 6% over the past five sessions and 21% over the past month amid ongoing COVID-19 omricon variant concerns and overall market uncertainty.

See Also: Why Uber Shares Are Rising Today

Nio operates in China's premium electric vehicle market. The company designs and jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving and artificial intelligence.

Nio has a 52-week high of $66.99 and a 52-week low of $29.66.