Why NIO Stock Is Up Today
Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were rising on Tuesday morning, as buyers waded in a day after the shares were hit in a broad U.S. market sell-off on COVID-19 concerns.
As of 11 a.m. EDT, NIO's American depositary receipts were up about 5.4% from Monday's closing price.
Shares of NIO and several other electric-vehicle makers were hit hard in Monday's market sell-off, as investors appeared to be unloading higher-volatility stocks on economic concerns related to rising numbers of coronavirus cases in the U.S. and Europe. NIO's shares ended Monday's session at $26.01, down about 4.2% from Friday's close.
Source Fool.com
