Nio (NIO.US) announced that it is forced to temporarily halt electric vehicle production at its plant in Hefei, China, due to the worldwide shortage of semiconductors. Chinese electric vehicle maker said suspension will begin Monday and will last for five working days. Nio now expects to deliver 19,500 vehicles in the first quarter, compared with the 20,000 to 20,500 vehicles it had previously expected.
Nio (NIO.US) stock launched today's session with a bearish price gap and is currently testing major support at $ 34.75. Should a break lower occur, then downward move may be extended to the $29.50 handle or even $25.25 support. On the other hand, if buyers will manage to halt declines here then upward impulse towards downward trendline could be launched. Source: xStation5This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.