NIO Drops 5% on Disclosed BlackRock Stake Cut While Tesla, Lucid, Rivian Hold Steady

NIO Drops 5% on Disclosed BlackRock Stake Cut While Tesla, Lucid, Rivian Hold Steady

Shares of Nio (NYSE:NIO | NIO Price Prediction) are down 5% to $4.57 in Tuesday morning trading, the clear outlier across electric vehicle names today. Tesla (NASDAQ:TSLA) stock is up 1% to $335.36, Lucid Group (NASDAQ:LCID) shares are up 1% to $6.68, and Rivian (NASDAQ:RIVN) stock is down 1% to $16.25. The sector tape is ... NIO Drops 5% on Disclosed BlackRock Stake Cut While Tesla, Lucid, Rivian Hold Steady

BlackRock Cuts Nio Position by 12% in Q2, Ending Two-Quarter Buildup

BlackRock cut its position in Chinese EV maker Nio by 11.8% during the second quarter, selling 1.2 million shares to end the period with 9,461,793 shares, its latest 13F filing with the US Securities and Exchange Commission (SEC) showed. The world’s largest asset manager finished the second quarter with $15.3 trillion in assets under management. Its position in Nio was valued at $47.9 million as of June 30. Based on Friday’s closing price, the p…