Nio stock price dropped below a crucial support level as demand for Chinese electric vehicle shares fell. It dropped to a multi-month low of $4.88 in New York, down by 40% from its highest point this year despite its strong delivery numbers. Nio’s vehicle deliveries are soaring Nio has emerged as one of the fastest-growing Chinese EV companies, helped by the traction of its newly launched vehicles. Data released last week showed that its deliveries jumped by 62.9% YoY in June, bringing its secon