Why Nio Jumped Again Today
Nio (NYSE: NIO) investors got some good news from Chinese authorities for the second day in a row today. The company's American depositary shares are responding again this morning, jumping 6% at the market open but easing to a gain of 1.9% as of 10:05 a.m. ET.
Image source: Nio.
Shares of the Chinese EV company spiked yesterday on news that the Chinese government was adding a new stimulus package to jump-start a sagging economy. That could help drive more demand for Nio's vehicles. U.S. investors, however, have also had to consider the potential for Nio shares to be delisted along with other Chinese companies that don't satisfy U.S. regulators with sufficient auditing practices. Today, authorities in both countries announced an agreement on that matter, reports Reuters.
Source Fool.com
