Nio stock pulls back, after reporting near 10% jump in February EV deliveries – MarketWatch

Nio Inc.
NIO,
-3.28%
reported overnight that February deliveries rose 9.9% from a year ago to 6,131 electric vehicles. The deliveries in the month consisted of 1,084 ES8 six- or seven-seat smart electric SUVs, 3,309 ES6 five-seat SUVs and 1,738 EC6 five-seat coupe SUV. The China-based EV maker’s stock fell 2.8% in premarket trading, after it ran up 9.1% on Monday following the company’s announcement that proposed a secondary listing of its shares on the Hong Kong exchange. Nio’s stock has tumbled 40.4% over the past three months through Monday, while the iShares MSCI China ETF
MCHI,
-0.31%
has shed 9.5% and the S&P 500
SPX,
-1.32%
has slipped 3.1%. Among other China-based EV maker’s shares of XPeng Inc.
XPEV,
-6.38%
fell 3.1% premarket, after the company said it delivered 6,225EVs in February, up 180% from a year ago, while Li Auto Inc.’s stock
LI,
-1.22%
slipped 0.2% after saying February deliveries rose nearly four-fold (265.8%) to 8,414 Li ONEs.