Nio sold off on declining car prices, says Barclays

Barclays analyst Jiong Shao reiterates an Underweight rating on Nio with a $4 price target following the Q1 report. Concerns around higher than expected selling expenses and management comments around continued decline in selling prices for Q2 pressured the shares, the analyst tells investors in a research note. The firm has concerns around the sustainability of Nio’s recent sales rebound.