Why Nio Stock Skyrocketed Again Today
(NYSE: NIO) stock is surging again today. Its American depositary shares soared more than 12% Tuesday morning, and remained higher by 7.6% as of 11:40 a.m. ET. A new model release from the Chinese electric vehicle (EV) maker may be what Nio needed for investors to believe in its unique technology.
Image source: Nio.
Nio's share price has gained more than 33% in the last month. Most of that has come since it announced the release of its new ES8 flagship SUV. It wasn't the vehicle itself that caught investor attention -- it was the price. Now it seems many are beginning to believe that the company has a unique way to capture more and more of the EV markets in China and even Europe.
Source Fool.com
