Why Nio Stock Dipped Lower Today

Why Nio Stock Dipped Lower Today

Shares of the Chinese electric vehicle company Nio (NYSE: NIO) hit the brakes today following the release of the latest U.S. jobs data. The Bureau of Labor Statistics said 263,000 jobs were added in September, indicating a strong labor market. Additionally, Nio received a price-target cut by an analyst yesterday, which could be weighing on the stock as well.