On March 6, 2019, NIO filed a Form 6-K with the U.S. Securities and Exchange Commission announcing its fourth quarter and full year 2018 financial results. The Form 6-K revealed that: (1) NIO agreed in principle to terminate its plan for a manufacturing plant; and (2) deliveries of its flagship electric SUV slowed more than expected due to “accelerated deliveries made at the end of last year in anticipation of EV subsidy reductions in China in 2019, as well as the seasonal slowdowns surrounding the January 1st and Chinese New Year holidays.” NIO continued, “We also expect deliveries in the second quarter 2019 to reflect continued weakness as we await the results of the 2019 EV subsidy policy in China and improvement in the macro-economic conditions.” On this news, shares of NIO fell $3.07 per share or over 30% over the next two trading days to close at $7.09 per share on March 7, 2019.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by NIO investors. If you purchased shares of NIO, please visit the firm’s website at https://www.rosenlegal.com/cases-register-1534.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
Zachary Halper, Esq.
The Rosen Law Firm, P.A.275 Madison Avenue, 34th FloorNew York, NY 10016
Tel: (212) 686-1060
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Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.