Why Nio Stock Is Up Today
Shares of Chinese electric vehicle maker Nio (NYSE: NIO) were up Thursday though there was no company-specific news driving the move. Some investors may be pushing the electric vehicle (EV) company higher in response to news that the number of new daily COVID-19 cases in Shanghai is dropping.
The EV stock had been down by as much as 5% early in the session, but had rebounded by the afternoon and closed the day up by 1%.
So why was Nio's share price behaving so erratically? It could be that investors were trying to process the ever-changing news about coronavirus lockdowns in China.
Source Fool.com
