Meta stocks plummet after weak earnings reports

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Why NioStock is tanking today

The stock price of Nio (NYSE: NIO) has fallen sharply today, the day after Nio and other Chinese electric car makers announced January deliveries. Nio reported shipping 9,652 EVs in January. This is an 8% decrease from December shipments of 10,489 units. Nio shares have rebounded in response to yesterday’s news, but investors today may think they are losing to domestic competitors because the data results are more digested.