Nio’s stock dives as EV maker raises $1 billion at shareholders’ expense

1. NIO sold $1 billion in stock, causing a significant drop in share price. 2. The equity offering represents over 8% of NIO's market cap of $11.93 billion. 3. NIO's Q2 sales fell short for the sixth straight quarter, sparking investor concern. 4. NIO does not rank in the top-10 for new-energy vehicle deliveries in China. 5. BYD leads EV sales in China with 1.88 million vehicles delivered.