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Why NIO Stock Is Higher Today

TheMotleyFool

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Why NIO Stock Is Higher TodayPhoto, wide shot, wide-angle lens, soft focus, Auto parts supplier, sunset photo at golden hour, photo by Thomas Heaton: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-ZpZWLOA2q1Lrbc78ceLTs90l.png?st=2023-05-15T05%3A50%3A02Z&se=2023-05-15T07%3A50%3A02Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-14T21%3A19%3A00Z&ske=2023-05-15T21%3A19%3A00Z&sks=b&skv=2021-08-06&sig=aAZzsKm3Fg0e2CB07XvcACW5j1LlZPrsv8bXoWdHs6k%3D

Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were moving higher on Friday after the company reported strong first-quarter results tempered by concerns about the impact of an ongoing shortage of semiconductors.

At 10:45 a.m. EDT, NIO's American depositary shares (ADS) were up about 5.6% from Thursday's closing price.

NIO reported its first-quarter results after the U.S. markets closed on Thursday, and they were good. The company's adjusted loss of $0.04 per ADS was narrower than the $0.10-per-share loss that Wall Street had expected, and its revenue came in above expectations as well.

Source Fool.com

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