Nio shares fall after $2 billion stock offering announced

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Published: Sept. 7, 2021 astatine 5:09 p.m. ET

Chinese electric-car institution announces at-the-market offering

Nio Inc. shares fell successful precocious trading Tuesday, aft the Chinese electric-car institution announced plans to merchantability up to $2 cardinal successful caller U.S. shares.

Nio NIO, +0.54% filed a prospectus with the Securities and Exchange Commission to merchantability up to $2 cardinal successful American depository shares successful an at-the-market offering, which seeks to terms shares astatine the going marketplace rate. Nio shares closed Tuesday astatine $40.59, suggesting Nio could question to merchantability up to astir 50 cardinal shares depending connected pricing, and said the proceeds volition beryllium utilized for wide firm purposes and to fortify its equilibrium sheet.

3M banal sinks to pb the Dow's losers, heads for archetypal adjacent beneath 200-DMA successful 13 months

Shares of 3M Co. undefined sank 3.0% successful greeting trading Tuesday, capable to gait the Dow Jones Industrial Average's undefined decliners and to enactment them connected way to adjacent astatine a 5 1/2-month low. The concern and user products company's stock, stock's terms diminution of $5.85 is shaving astir 39 points disconnected the terms of the Dow, which is down 280 points, oregon 0.8%, with 24 if 30 components losing ground. 3M shares are besides connected way to adjacent beneath its 200-day moving mean (200-DMA), which galore connected Wall Street presumption arsenic a dividing enactment betwixt longer-term uptrends and downtrends, for the archetypal clip since Aug. 6, 2020. The banal has present shed 9.1% since closing astatine a two-year precocious of $207.33 connected May 10, 2021. The company's astir caller property merchandise was connected Friday, which was to denote that it volition big an capitalist lawsuit connected Sept. 13. The banal has present mislaid 7.5% implicit the past 3 months, portion the SPDR Industrial Select Sector ETF undefined has slipped 1.6% and the Dow has gained 1.3%.