NIO Inc – ADR (NYSE:NIO) shares are trading lower by 2.29% to $7.69 Wednesday. The stock is potentially trading lower in anticipation of the company’s first-quarter earnings report, confirmed for Friday’s pre-market session. Furthermore, multiple stocks in the sector are being negatively impacted by lackluster export data from China.
Per Reuters, China’s Customs Bureau data revealed a significant 7.5% year-on-year decline in May exports, surpassing the projected 0.4% decrease and marking the largest drop since January.
Imports, on the other hand, contracted by 4.5%, indicating a slower decline than the anticipated 8.0% and April’s 7.9% fall.
Based on analyst consensus estimates, NIO on Friday is projected to announce an earnings per share (EPS) loss of 44 cents, alongside a revenue of 2.329 billion.
See Also: Looking At NIO’s Recent Unusual Options Activity
NIO is a leading electric vehicle maker targeting the premium segment.
According to data from Benzinga Pro, NIO has a 52-week high of $24.43 and a 52-week low of $7.00.
