Shares of several automotive companies, including Nio Inc - ADR (NYSE:NIO), are trading lower amid continued COVID-19 omicron variant concerns. Investors could be fearing uncertainty as the sector is currently facing supply chain issues stemming from previous COVID-19 restrictions.

Shares of several Chinese stocks, including Nio, were also trading lower last week as investors weigh Chinese economic data along with continued omicron variant concerns.

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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 $27.84.