Shares of Nio Inc. NIO, -7.74% dropped 6.5% in premarket trading, to extend the pullback a day before the China-based electric vehicle maker reports third-quarter results. The stock had dropped 7.7% on Tuesday, after soaring 12.1% on Thursday to close at a record $48.30. Nio is scheduled to reveal results before Tuesday’s open, with analysts surveyed by FactSet earnings per share of RMB1.18 on revenue of RMB4.37 billion ($662.6 million). Among other China-based EV makers, shares of Li Auto Inc. LI, -1.82% gained 0.6% ahead of the open and XPeng Inc. XPEV, -6.12% fell 2.4%. Nio’s stock has rocketed 1,008.5% year to date through Friday, while the iShares MSCI China ETF MCHI, +0.90% has rallied 25.5% and the S&P 500 SPX, +1.36% has gained 11.0%.
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