Chinese EV maker Nio dips as its November delivery total comes in 10% below October

Shares of Nio are down nearly 4% in premarket trading on Monday after the EV maker reported its November delivery total.

Nio delivered 36,275 vehicles in the month, up more than 76% from the same month last year. Still, the total marks a 10% drop from the company’s record delivery total in October, and investors appear to be disappointed in the momentum shift.

Sales were dragged down by a 32% month-over-month delivery drop-off from Nio’s Onvo sub-brand. Last week, Nio lowered its Q4 delivery guidance from 150,000 vehicles to a range of 120,000 to 125,000, citing China’s phase-out of certain vehicle subsidies.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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