Benzinga | Nov 9, 2021 01:05PM EST

Why NIO Shares Are Falling

NIO Inc. (NYSE:NIO) shares are trading lower ahead of the company's earnings report, which is schedule for after the close today. Several EV names are pulling back today following a recent rally in the sector.

NIO is expected to report third-quarter loss of 9 cents per share and sales of $1.46 billion.

NIO Inc. designs, develops, manufactures, and sells smart electric vehicles in China. The company offers five, six, and seven-seater electric SUVs, as well as smart electric sedans.

NIO's stock was trading about 5.6% lower at $40.78 per share on Tuesday at the time of publication. The stock has a 52-week high of $66.99 and a 52-week low of $30.71.