NIO Shares Down 3% On Trimmed Outlook For Q3 Delivery

Shares of Chinese electric vehicle manufacturer NIO Inc. (NIO) are down 3 percent on Wednesday's trading as the company lowered its vehicle delivery outlook for the third quarter of 2021. NIO attributed this revision to continued uncertainty and volatility of semiconductor supply.

In the third quarter, the company expects to deliver approximately 22,500 to 23,500 vehicles, down from the earlier projection of 23,000 to 25,000 vehicles.

In August this year, the company delivered 5,880 vehicles, up 48.3 percent from last year.

Currently at $38.40, the stock has traded between $15.61 and $66.99 during the past 52 weeks.

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