(VIANEWS) – Concerns have been raised about safety in China’s smart electric cars after a Chinese entrepreneur was killed in a car accident driving a Nio ES8 sport utility vehicle.

Benzinga reported about Lin Wenqin (the founder of Chinese restaurant brand Meiyihao) died on August 12, while operating an NIO ES8 equipped with autopilot NOP (Navigation On Pilot), China’s official media Securities Times reported.

Nio, seen as a Tesla Inc. competitor, has positioned itself as a premium electric car manufacturer since its inception in 2014.

Shares of Nio (NIO) dropped 5.07% to $38.95 at 09:43 EST on Monday, after two consecutive sessions in a row of losses. NYSE Composite is falling 0.03% to $16,871.12, after two successive sessions in a row of losses. This seems, at the moment, a somewhat negative trend exchanging session today.

Nio’s last close was $43.97, 34.36% under its 52-week high of $66.99.

Volume

Today’s last reported volume for Nio is 11363473 which is 80.53% below its average volume of 58379125.

Nio’s Sales

Nio’s sales growth is 133.8% for the current quarter and 99.1% for the next. The company’s growth estimates for the present quarter and the next is 38.9% and 33.3%, respectively.

Nio’s Revenue

Year-on-year quarterly revenue growth grew by 481.8%, now sitting on 22.87B for the twelve trailing months.

Volatility

Nio’s last week, last month’s, and last quarter’s current volatility was a negative 3.32%, a negative 0.88%, and a positive 2.88%, respectively.

Nio’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 3.32% (last week), 2.88% (last month), and 2.88% (last quarter), respectively.

Stock Price Classification

According to the stochastic oscillator, a useful indicator of overbought and oversold conditions,

Nio’s stock is considered to be overbought (>=80).

Nio’s Stock Yearly Top and Bottom Value

Nio’s stock is valued at $38.95 at 09:43 EST, way under its 52-week high of $66.99 and way higher than its 52-week low of $12.54.

Nio’s Moving Average

Nio’s value is way below its 50-day moving average of $45.51 and way below its 200-day moving average of $44.07.

News about Nio (NIO) today

Nio es8 accident rekindles concerns over safety with smart EVs in China. According to today’s article on Benzinga, “The death of a Chinese entrepreneur in a traffic accident while driving a Nio Inc. (NYSE: NIO) ES8 sports utility vehicle has raised concerns about the safety of smart electric vehicles in China.”, “Seen as a Tesla Inc. (NASDAQ: TSLA) rival, Nio has positioned itself as a premium electric vehicle maker since being founded in 2014.”

Previous days news about Nio (NIO)

Big Canadian pension fund hikes its position in nio by 40%: what you need to know. According to Benzinga on Saturday, 14 August, “What Happened: Canada’s Public Sector Pension Investment Board has hiked its Nio holdings from 192,337 shares at the end of the March quarter to 270,274 shares at the end of the June quarter, the filing revealed.”, “Why It’s Important: China-based Nio is a maker of premium EVs and has carved a niche for itself. ”

Tesla, Nio supplier CATL seeks to raise $9b in bid to expand lithium-ion battery production. According to Benzinga on Friday, 13 August, “China’s Contemporary Amperex Technology Co Ltd, a battery supplier to Tesla Inc (NASDAQ: TSLA) and Nio Inc (NYSE: NIO), is planning to raise up to $9 billion in a private share placement, Reuters reported on Thursday.”, “See Also: Tesla, Nio Supplier CATL Said To Be Planning A New EV Battery Plant In Shanghai”

More news about Nio (NIO).

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