Shares of Nio (NYSE:NIO) stock are down by about 35% both year-to-date (YTD) and year-over-year (YOY), and it appears that Scottish investment firm Baillie Gifford has had enough.Baillie has filed its first-quarter Form 13F ahead of the May 15 deadline, revealing a major reduction in its NIO stake. A 13F documents an institutional investor’s equity and option positions and must be filed each quarter.As of March 31, Baillie owned 18.90 million shares of Nio, down by a significant 83.5%, or 95.73 million shar ...