Why NIO Stock Is Trading Higher Today
Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were moving higher on Wednesday, driven by heavy options trading a day after a bullish note from a key Wall Street analyst.
As of 12:30 p.m. EDT, NIO's American depositary shares were up about 3.4% from Tuesday's closing price.
In a note released on Tuesday morning, Deutsche Bank analyst Edison Yu reiterated his buy rating and $24 price target on NIO's shares with some new and bullish commentary.
Source Fool.com
