Shares of Niu Technologies (NIU), a leading electric scooter and motorcycle manufacturer based in China, plummeted by 9.56% on November 6, 2024, amid concerns over the potential impact of Donald Trump's return to the White House on the electric vehicle (EV) industry.
The stock sell-off was triggered by fears that Trump's administration could revise or potentially roll back tax subsidies and favorable policies for the EV industry, as outlined in his previous statements. While Niu Technologies operates primarily in China, the company's stock was caught in the broader market sentiment as investors reassessed the potential implications of Trump's policies.
Analysts at Bank of America warned of a tougher approach to trade and tariffs under the new administration, which could indirectly impact Niu Technologies' operations and supply chain. Additionally, any changes to environmental standards or trade tensions could potentially dampen the global demand for electric vehicles, affecting the company's growth prospects.
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