NIO Stock Falls as Blackrock Slashes Stake in EV Maker

Nio stock closed lower on Tuesday following BlackRock’s announcement that it had trimmed its position in the Chinese electric vehicle maker. According to regulatory filings, the world’s largest asset manager sold 1.2 million shares, reducing its overall exposure to the company by roughly 12%. The move came at a time when NIO shares had already declined more than 30% from their year-to-date high.
BlackRock’s decision to cut its stake represented a significant signal from a majo