Why Nio Stock Is on Fire Today
Nio (NYSE: NIO) stock popped again today, and was trading up 5.5% as of noon ET Wednesday. Shares of the electric vehicle (EV) maker zoomed by double digits ahead of today's product launch event. Suffice to say, Nio managed to impressed investors -- it didn't just launch a new EV, but also announced upgrades to existing ones along with a price hike.
Meanwhile, at least two analysts reiterated their bullish views on Nio today as they see much stronger days ahead for the EV maker.
Nio unveiled its new SUV, the ES7, today. The mid- to large-size SUV that will rival BMW X5L is now open for preorders, with Nio targeting Aug. 28 as the date of first delivery.
Source Fool.com
