NIO Inc ( NIO ) shares are trading lower Monday as traders continue to assess the company’s delivery numbers from late last week.

What Happened: Nio on Friday provided a delivery update for July showing that month-over-month deliveries declined to 21,017 vehicles from 24,925 in June.

The deliveries consisted of 12,675 vehicles from the Nio brand, 5,976 vehicles from the Onvo brand and 2,366 vehicles from the company’s Firefly brand. Nio noted that cumulative deliveries reached 806,731 as of July 31.

Despite Monday’s decline, Nio shares have shown strong momentum, with a momentum score of 71.86 according to Benzinga Edge. However, the underlying growth and value metrics remain lower, with growth at just 13.43 and value at 32.92.

Technical analysis reveals that Nio shares are currently facing resistance around the $4.90 mark, with support identified at the recent low of $4.60. The Relative Strength Index (RSI) suggests a neutral position, indicating potential for both upward and downward movement depending on market sentiment.

Monday’s trading volume stands at approximately 53.2 million shares, reflecting heightened activity. The company’s average session volume over a 100-day period is approximately 46 million, according to Benzinga Pro.

How To Buy NIO Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Nio's case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

NIO Price Action: Nio shares were down 8.08% at $4.60 at the time of publication Monday, according to Benzinga Pro.

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