Why Nio Stock Jumped 9% Early Today
Nio (NYSE: NIO) stock surged this morning and had shot up 8.9% as of 10 a.m. ET as investors lapped up the latest delivery numbers from the electric vehicle (EV) maker, which seem to put to rest some of the market's major concerns.
Among the several factors that hit Nio stock over the past couple of months or so was fears of decelerating growth as the company had to shut down operations in China amid COVID-19 lockdowns.
Nearly every automaker in China had to suspend production. Yet, such hurdles tend to hit growth companies more, and with Nio having only just started deliveries of its flagship sedan, the ET7, on March 28, investors didn't want to see any disruption to sales.
Source Fool.com
