Why NIO Stock Is Higher Today
Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were moving higher on Friday after the company reported strong first-quarter results tempered by concerns about the impact of an ongoing shortage of semiconductors.
At 10:45 a.m. EDT, NIO's American depositary shares (ADS) were up about 5.6% from Thursday's closing price.
NIO reported its first-quarter results after the U.S. markets closed on Thursday, and they were good. The company's adjusted loss of $0.04 per ADS was narrower than the $0.10-per-share loss that Wall Street had expected, and its revenue came in above expectations as well.
Source Fool.com
