The American depositary receipts of NIO (NYSE: NIO), the Chinese EV manufacturer, closed trading yesterday at $39.76, down -38% from a 52-week high of $64.60 on 10th February last year. But with the Nasdaq Composite Index and the Dow Jones Industrial Average both in recovery mode yesterday, NIO too was able to recover some of its losses, with a 1.35% gain.
NIO is a car maker with ambitious ideas about transforming the experience of car ownership, in a market where the technological competition is fierce.
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