Why Nio Stock Is Rallying Higher Today
Nio (NYSE: NIO) stock is off to a strong start this week and extended its gains from Monday through today -- the electric vehicle (EV) stock was trading up 1.8% as of 12:25 p.m. ET this afternoon. An important update from China could be fueling the stock price today.
One big concern that weighed heavily on Nio shares since December last year was the potential threat of delisting from the U.S. stock exchange under the Securities and Exchange Commission's (SEC) scrutiny. Although the SEC's audit rules apply to all foreign companies listed in the U.S., Chinese stocks face a bigger risk given China's disregard for U.S. regulations so far.
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Source Fool.com
