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NIO stock sinks toward 3-month low after wider-than-expected loss, downbeat outlook

Shares of NIO Inc. sank 5.7% toward a three-month low in premarket trading Wednesday, after the China-based electric vehicle maker reported a wider-than-expected second-quarter loss as revenue rose above forecasts but gross margins contracted, and provided a downbeat revenue outlook. The net loss widened to RMB$2.26 billion ($337.3 million), or RMB1.68 a share, from RMB773.6 million, or RMB0.42 a share, in the year-ago period. Excluding nonrecurring items, the adjusted loss per American deposita
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