Why NIO Stock Is Higher Today
Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were higher in early trading on Thursday, after the company's first-quarter sales came in above its guidance.
As of 10:15 a.m. EDT, NIO's American depositary shares were up about 5.2% from Wednesday's closing price.
NIO said that it delivered 20,060 vehicles in March, ahead of the roughly 19,500 it had forecast when it announced a temporary production halt last week. NIO, like other automakers including Ford Motor and Toyota, has been affected by an ongoing global shortage of automotive-grade semiconductors.
Source Fool.com
