Why NIO Stock Is Moving Higher Today
Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were moving higher on Thursday morning. Investors are looking ahead to the company's annual NIO Day, set for Saturday, when it is expected to reveal a new sedan model and longer-range battery packs.
As of 10:15 a.m. EST, NIO's American depositary shares were up about 5.2% from Wednesday's closing price.
NIO Day is the company's annual party for its customers and fans, typically held a few weeks before the Chinese New Year. In addition to live music and assorted festivities, NIO uses the occasions to reveal new models and provide updates on its technologies.
Source Fool.com
