Benzinga | Nov 17, 2021 02:28PM EST

Why Nio Shares Are Falling

Shares of Chinese companies, including Nio Inc - ADR (NYSE:NIO) are trading lower. Weakness is possibly in reaction to worse-than-expected guidance from Baidu and iQIYI.

Baidu reported quarterly earnings of $2.28 per share, which beat the estimate of $2.01 per share. The company reported quarterly revenue of $4.954 billion, which came in below the estimate of $4.97 billion... Read More

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 $30.71.