Why NIO Stock Is Rising Today
Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were trading higher on Tuesday, a day after the company announced that a secondary stock offering had priced at a discount.
As of 12:45 p.m. EDT, NIO's shares were up about 3.5% from Monday's closing price.
NIO's shares opened lower on Monday, after the company said that its secondary stock offering had priced at $17, $1.50 below Friday's closing price. That suggested to investors that NIO's bankers might have needed to sweeten the deal in order to sell the shares, but concerns might have been overblown.
Source Fool.com
