Why NIO Stock Is Up Today
Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were trading higher on Monday morning, propelled by continuing momentum from the earnings report it delivered last week, which beat Wall Street's estimates.
As of 10:30 a.m. EST, NIO's American depositary shares were up about 4.2% from Friday's closing price.
There was no fresh good news about NIO Monday, but there was plenty last week. NIO reported strong third-quarter results after the U.S. markets closed on Tuesday. Its loss of $0.14 per share was narrower than Wall Street's consensus estimate, as the company's gross margin expanded to 12.9% thanks to positive trends on both its costs and the pricing of its vehicles.
Source Fool.com
