Why NIO Stock Is Up Today
Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were rising on Tuesday, a day after shares of start-up electric-truck manufacturer Nikola (NASDAQ: NKLA) rose more than 100%, as traders sought other opportunities to ride a potential electric-vehicle boom.
As of 2 p.m. EDT, NIO's shares were up about 12.1%.
There was no big news driving NIO's shares higher on Tuesday afternoon. Rather, it appeared that traders were buying NIO's stock in hopes that whatever lightning hit Nikola's stock on Monday might strike NIO's as well.
Source Fool.com
