Nio’s stock bounces off 3-year low, heads for first gain in 5 days

Shares of Nio Inc. NIO bounced 0.8% off a more than three-year low in premarket trading Tuesday. The China-based electric vehicle maker’s stock had dropped 7.8% amid a four-day losing streak to close Monday at the lowest price since June 26, 2020. The stock was supported by a 0.2% gain in the Shanghai Composite Index CN:SHCOMP overnight, which bucked the weakness seen in Hong Kong and Japan’s markets. Among Nio’s peers, Li Auto Inc.’s stock LI rose 1.6% ahead of Tuesday’s open and Xpeng Inc. shares XPEV tacked on 1.1%. And shares of Tesla Inc. TSLA, the Texas-based EV giant that generated 21.5% of its third-quarter revenue…