Nio Stock Slumped 18.9% in September Despite a Big Geely Deal. Should You Buy the Dip?
Nio (NYSE:NIO) sells premium and mass-market electric vehicles (EVs) and offers owners a perk: pull into a swap station with a drained battery and drive out with a full one. On Sept 28, Geely (OTC:GELYF), another automaker, signed a deal for a 30% stake in the unit that runs those stations.
Yet, Nio’s stock fell and exited the month with 18.9% loss, according to data provided by S&P Global Market Intelligence.
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