Why Is Nio's Stock Surging Today?
Shares of Chinese electric vehicle maker Nio (NYSE: NIO) opened sharply higher on Monday, amid a surprising rally for companies that have spent time as "meme stocks" over the last couple of years, but that have had rough rides recently.
As of 11:35 a.m. ET, Nio's American depositary shares were up about 15.5% from Friday's closing price.
Nio was one of many stocks in the electric vehicle space moving sharply higher on Monday, possibly due to a relief rally after a tumultuous month that saw many once-popular names drop sharply.
Source Fool.com
